Naira Records Slight Decline Against Dollar at Official, Parallel Markets
The Nigerian naira weakened slightly against the United States dollar on Tuesday, May 19, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as demand for foreign exchange remained high.
According to data released by the Central Bank of Nigeria, the naira traded at about ₦1,373.5 per dollar at the official NFEM window, compared to ₦1,372/$ recorded in the previous trading session.
At the parallel market, commonly referred to as the black market, the dollar exchanged at approximately ₦1,395/$, up from around ₦1,390/$ recorded at the close of trading last Friday.
The latest figures widened the gap between the official and parallel market rates to about ₦21.5 per dollar.
Read Also:
Dollar to Naira exchange rate today, May 18, 2026
Market analysts linked the mild depreciation to sustained pressure from importers, manufacturers and other businesses seeking foreign exchange, despite continued interventions by monetary authorities to stabilise the local currency.
Meanwhile, turnover in the interbank foreign exchange market rose significantly to about $76.3 million, indicating stronger trading activity within the market.
External market trackers also showed the USD/NGN exchange rate hovering around ₦1,371 on Tuesday, suggesting that the naira has remained relatively stable in recent sessions despite minor fluctuations.
