The Nigerian naira recorded a slight gain against the United States dollar on Wednesday, May 13, 2026, across both the official and parallel foreign exchange markets as liquidity conditions improved and the Central Bank of Nigeria sustained its market interventions.
At the official Nigerian Foreign Exchange Market (NFEM), the naira traded at about ₦1,373 per dollar, showing a modest improvement from the roughly ₦1,375 exchanged in the previous trading session.
In the parallel market, popularly known as the black market, the dollar traded between ₦1,395 and ₦1,405 in Lagos and other major commercial centres. The rates reflected a slight appreciation for the naira compared to earlier figures recorded at the beginning of the week.
Read Also:
Naira down to N1,465/$ in parallel market
Financial analysts linked the improved performance of the local currency to increased dollar inflows into the official market, reduced speculative activities, and continued interventions by the Central Bank aimed at stabilising the foreign exchange market and narrowing the gap between official and unofficial rates.
The difference between the official NFEM rate and the black market rate narrowed to around ₦20 to ₦30 per dollar, a sign of relative stability compared to the wider margins seen earlier in the year.
Market turnover at the official window also increased, indicating stronger participation from authorised dealers and forex traders despite sustained demand pressure from importers, tuition fee payments, business transactions and foreign travel obligations.
