The Nigerian naira sustained a relatively stable performance against the United States dollar on Thursday across both the official and parallel foreign exchange markets, extending the recent trend of calm trading conditions in the country’s forex market.
At the Nigerian Foreign Exchange Market (NFEM), which serves as the official trading window, opening data for May 21, 2026, showed the naira trading at ₦1,371.25 to the dollar.
The latest figure aligns closely with rates recorded in recent sessions supervised by the Central Bank of Nigeria, where the local currency traded around the ₦1,373 range.
Market participants noted that liquidity within the official market has remained relatively stable, supported by steady interbank transactions and ongoing supply interventions that have helped prevent major fluctuations in exchange rates.
In the parallel market, commonly known as the black market, Bureau De Change operators in key commercial centres such as Lagos, Abuja and Kano quoted the dollar at about ₦1,370 for buying and around ₦1,372 for selling.
Analysts observed that the close alignment between the official NFEM rate and the parallel market rate reflects a significant reduction in the traditional premium associated with informal currency trading.
They attributed the stability to balanced retail demand and monetary policy measures aimed at limiting speculation and improving confidence in the foreign exchange market.
With the Monetary Policy Rate maintained at 26.5 per cent, financial experts said the broader economic environment continues to support a cautious monetary stance designed to manage liquidity and sustain the relative stability currently seen across the forex market.
