The Nigerian naira recorded a relatively stable performance on Tuesday, May 26, 2026, trading within a narrow band against the United States dollar across both the official and parallel foreign exchange markets.
At the official window of the Central Bank of Nigeria, the naira exchanged at about ₦1,375 to the dollar under the Nigerian Foreign Exchange Market (NFEM), with intraday movements ranging between ₦1,374 and ₦1,377.
Market data indicated that the currency’s steadiness was supported by improved foreign exchange liquidity, sustained investor confidence, and expectations of additional inflows into the economy. Analysts also noted moderate trading activity in the interbank FX market despite periodic demand pressures.
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In the parallel market, the dollar was sold at between ₦1,390 and ₦1,397, while buying rates ranged from ₦1,385 to ₦1,390, depending on location and transaction volume.
The relatively small gap between official and parallel market rates was attributed to ongoing monetary reforms aimed at improving transparency and liquidity in the FX system.
Currency traders said demand remained driven by importers, students, travellers, and businesses seeking foreign exchange for various obligations, continuing to place pressure on the naira despite recent stabilisation trends.
Recall that the naira traded within a relatively stable range against the United States dollar on Monday, May 25, 2026, across both the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria showed the naira trading around ₦1,375/$ at the Nigerian Foreign Exchange Market (NFEM), closely aligning with the previous closing rate of ₦1,375.46/$ recorded on May 22.
The movement reflects continued stability in the official market despite persistent demand pressures.
At the parallel market, also known as the black market, Bureau De Change operators in Lagos and Abuja quoted the dollar at approximately ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling.
