The Nigerian Naira sustained its steady performance against the United States Dollar in the early hours of Friday, May 22, 2026, as exchange rates remained largely stable across both the official and parallel market segments.
At the Nigerian Foreign Exchange Market (NFEM), the official trading window, the Naira opened at ₦1,370.05 to one US Dollar. The figure closely reflects the previous trading session, where rates fluctuated between ₦1,371 and ₦1,373 per dollar.
Market observers say liquidity at the official window has remained stable due to consistent interbank activity and sustained interventions by the Central Bank of Nigeria aimed at reducing volatility and improving transaction efficiency.
In the parallel market, also known as the black market, traders in major cities including Lagos, Abuja, and Kano quoted the Dollar at around ₦1,370 for buying and ₦1,372 for selling.
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The close alignment between the official and parallel market rates signals a continued narrowing of the gap that previously existed between both markets, reducing speculative pressure on the local currency.
Financial analysts attribute the current stability to tighter monetary policies and moderated demand for foreign exchange. With the Monetary Policy Rate currently fixed at 26.5 percent, experts believe the apex bank’s liquidity control measures have helped stabilize the market and improve investor confidence.
The sustained convergence between both exchange rate windows is also being viewed as a positive sign for businesses and investors seeking a more predictable foreign exchange environment.
