The Nigerian naira maintained a relatively le position against the British pound sterling on Friday, April 17, 2026, across both the official and parallel foreign exce markets, reflecting cautious adjustments despite sustained demand for foreign currency.
At the official Nigerian Foreign Exce Market, the pound traded within the range of ₦1,820 to ₦1,850. Mid market estimates placed the exce rate at approximately ₦1,825 to ₦1,830, indicating only slight day to day fluctuations without any major volatility.
Recent data suggests that the pound naira exce rate has remained within this band over the past week. Analysts attribute this relative ility to improved liquidity and ongoing reforms in Nigeria’s foreign exce framework, which have helped moderate sharp swings in the market.
In the parallel market, however, the naira traded slightly weaker due to persistent retail demand. Street traders were observed buying pounds at around ₦1,850 and selling between ₦1,870 and ₦1,900, depending on transaction size and location.
Despite this difference, the gap between official and parallel market rates remains relatively narrow, typically ranging between ₦30 and ₦70. This indicates a gradual convergence trend similar to what has been observed in the dollar segment of the foreign exce market.
Market observers note that the strength of the pound is supported by its global standing and continued demand in Nigeria for international transactions, including school fees, travel expenses, and cross border payments.
Overall, the naira’s performance against the pound reflects a period of cautious ility, as both official and informal markets adjust to underlying demand pressures while avoiding sharp disruptions.
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