The Nigerian naira remained relatively stable against the United States dollar on Friday, May 29, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as improved liquidity continued to support the local currency.
According to data released by the Central Bank of Nigeria, the dollar traded at about ₦1,375.41 at the official NFEM window, showing little movement compared to recent trading sessions.
Financial analysts said the official market has continued to benefit from stronger foreign exchange inflows and ongoing interventions by the apex bank aimed at stabilising the naira.
Read Also:
Naira depreciates to N1,380/$ in parallel market
At the parallel market, commonly referred to as the black market, the dollar exchanged at an average buying rate of ₦1,378 and sold for around ₦1,390 on Friday.
The difference between the official and parallel market rates has remained relatively narrow in recent weeks, a trend many market observers attribute to improved FX supply and growing confidence in the foreign exchange market.
Recent trading activities have seen the naira fluctuate between ₦1,360 and ₦1,390 against the dollar across both markets, while importers, manufacturers, and other businesses continue to closely monitor forex availability.
Currency traders noted that demand for the dollar remains steady despite efforts by the Central Bank to improve supply through the official market window.
The NFEM rate currently serves as Nigeria’s official exchange rate benchmark and is calculated using a volume-weighted average of completed transactions during trading sessions.
