The Nigerian naira traded within a narrow range against the United States dollar on Tuesday, May 26, 2026, at both the official Nigerian Foreign Exchange Market and the parallel market, amid continued efforts by the Central Bank of Nigeria to stabilise the country’s foreign exchange system.
At the official market, figures from the Central Bank of Nigeria showed the naira exchanging at about ₦1,375 to the dollar at the NFEM window. Market data indicated that the exchange rate fluctuated slightly between ₦1,374 and ₦1,377 per dollar during trading.
Financial analysts linked the relative stability of the naira to improved foreign exchange liquidity, sustained investor confidence, and expectations of fresh inflows into the economy.
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They also noted that activity in the interbank foreign exchange market remained moderate despite slight variations in demand.
In the parallel market, popularly known as the black market, the dollar traded between ₦1,390 and ₦1,397 for selling, while buying rates ranged from ₦1,385 to ₦1,390 depending on transaction size and location.
Currency traders said the gap between the official and parallel market rates remained relatively narrow, reflecting ongoing reforms introduced by the apex bank to improve transparency and liquidity in the forex market.
Despite the recent stability, traders noted that demand for foreign exchange from importers, travellers, students paying tuition abroad, and businesses continued to place pressure on the naira.
