The Nigerian naira maintained relative stability against the United States dollar on Tuesday, May 26, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as monetary authorities sustained efforts to stabilise the country’s foreign exchange system.
Figures released by the Central Bank of Nigeria showed that the naira traded around ₦1,375 to the dollar at the official NFEM window. Market data indicated that the exchange rate fluctuated between ₦1,374 and ₦1,377 during trading sessions.
Financial analysts linked the steady performance of the local currency to improved foreign exchange liquidity, sustained investor confidence and expectations of additional inflows into the financial system. Reports also showed that activity within the interbank forex market remained moderate despite slight variations in demand levels.
In the parallel market, popularly known as the black market, the dollar traded between ₦1,390 and ₦1,397 for selling, while buying rates ranged from about ₦1,385 to ₦1,390 depending on transaction volume and location.
Analysts observed that the gap between the official and parallel market rates remained relatively narrow, reflecting the impact of ongoing reforms introduced by the Central Bank to improve transparency, liquidity and confidence in the foreign exchange market.
Currency traders, however, noted that demand from importers, travellers, students and businesses seeking foreign exchange for offshore transactions continued to place pressure on the naira despite recent gains recorded in the official market.
