The naira recorded mild swings against the United States dollar on Monday, May 18, 2026, as pressure from foreign exchange demand continued to shape trading activity across both official and parallel markets.
In the Nigerian Foreign Exchange Market (NFEM), the Central Bank of Nigeria’s indicative rate hovered around ₦1,371 per dollar, with intraday movements fluctuating between roughly ₦1,369 and ₦1,374.
Meanwhile, in the parallel market, the dollar exchanged at about ₦1,395 for buying and around ₦1,405 for selling in key commercial centres such as Lagos and Abuja.
The difference between official and street market rates remained comparatively narrow, a trend analysts attribute to ongoing liquidity support measures by the Central Bank and improved dollar supply to authorised dealers.
Although the naira has shown a degree of stability in recent sessions—largely trading within the ₦1,360 to ₦1,380 band at the official window—market participants say sustained demand from importers, manufacturers, and travellers continues to exert pressure.
Read more news
Naira to dollar across official, parallel markets on May 15, 2026
Naira gains slightly against dollar at official, parallel markets
Naira holds steady against dollar in early Wednesday trading
Analysts also note that broader economic factors, including global oil prices, Nigeria’s external reserves, and investor sentiment, will remain key determinants of the naira’s short-term performance.
The Nigerian naira posted a mixed performance against the United States dollar on Friday, May 15, 2026, across both the official and parallel foreign exchange markets as traders continued to monitor liquidity levels and demand pressures.
At the official Nigerian Foreign Exchange Market (NFEM), data from the Central Bank of Nigeria showed the naira trading at about ₦1,371 per dollar, compared to approximately ₦1,368.95 in the previous trading session, indicating a slight depreciation of the local currency.
In the parallel market, commonly referred to as the black market, the dollar exchanged between ₦1,392 and ₦1,395 depending on transaction size and location. Forex dealers in Lagos and Abuja quoted slightly lower buying rates, while selling prices remained close to the ₦1,395 mark.
The spread between the official and parallel market rates stood at roughly ₦20 to ₦24 per dollar, suggesting relative stability in the forex market amid ongoing interventions by monetary authorities.