The Nigerian naira weakened further against the United States dollar on Thursday, slipping to ₦1,392 per dollar at the parallel market, compared to ₦1,388 recorded on Wednesday.
The local currency also depreciated at the Nigerian Foreign Exchange Market (NFEM), where the official exchange rate closed at ₦1,371 per dollar.
Read Also:
Dollar to Naira exchange rate today, May 15, 2026
Data released by the Central Bank of Nigeria showed that the indicative exchange rate at the official market moved from ₦1,368.95 per dollar on Wednesday to ₦1,371 per dollar, indicating a ₦2.05 decline in the value of the naira.
As a result of the latest movement, the gap between the official and parallel market rates widened to ₦21 per dollar from ₦19.05 recorded the previous day.
Meanwhile, activity in the interbank foreign exchange market declined sharply, with turnover dropping by 39.6 per cent to $78.8 million, down from $130.6 million recorded on Wednesday.
The decline in turnover reflects reduced market activity and lower dollar supply within the official forex window.
