The Nigerian naira traded steadily against the United States dollar on Thursday, May 21, 2026, across both the official and parallel foreign exchange markets, extending the recent stability recorded in the country’s forex market.
Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira opening at about ₦1,371.25 per dollar at the official window.
The latest figure closely mirrors recent trading sessions overseen by the Central Bank of Nigeria, during which exchange rates have hovered around ₦1,373.
Market activity at the official window remained stable, supported by sustained liquidity and interbank transactions that kept the exchange rate within a narrow band over the past week.
Traders attributed the relative calm to continued market interventions and efficient transaction matching, which helped limit sharp volatility.
At the parallel market, also known as the black market, Bureau De Change operators in major centres, including Lagos, Abuja and Kano, quoted the dollar at around ₦1,370 for buying and ₦1,372 for selling.
The narrow spread between the official and parallel market rates reflects a significant decline in the premium that previously characterised informal forex trading.
Analysts linked the convergence to balanced retail demand and monetary measures aimed at reducing speculation and improving market confidence.
The development comes after the Monetary Policy Committee retained the benchmark Monetary Policy Rate at 26.5 per cent, maintaining a tight monetary stance aimed at supporting exchange rate stability and controlling liquidity pressures.
The Nigerian naira recorded mixed movements against the United States dollar on Wednesday, May 20, 2026, across both the official and parallel foreign exchange markets as demand for dollars persisted.
Figures released by the Central Bank of Nigeria showed the naira closing at approximately ₦1,373.65/$ at the official Nigerian Foreign Exchange Market (NFEM), slightly weaker than the ₦1,373.50/$ recorded in the previous trading session.
In the parallel market, the dollar traded at ₦1,390 to buy and ₦1,400 to sell across major currency markets in Lagos and Abuja.
Traders noted that the spread between the official and black-market rates remained relatively tight, suggesting continued efforts by monetary authorities to maintain stability and improve liquidity conditions in the forex market.
Analysts linked the latest exchange rate movement to persistent demand from importers and businesses, even as the central bank continues measures to increase dollar availability through official channels.
NFEM serves as Nigeria’s official forex trading platform, where exchange rates are determined through market-based transactions under the supervision of the apex bank.
Data from the CBN showed that it traded at about ₦1,373.5 per dollar at the Nigerian Foreign Exchange Market (NFEM), compared with ₦1,372/$ recorded in the previous trading session.
Read more news
Naira gains slightly against dollar at official, parallel markets
Naira holds steady against dollar in early Wednesday trading
The development reflects a slight weakening of the local currency at the official market window.