The Nigerian naira maintained relative stability against the United States dollar on Friday, May 29, 2026, across both the official and parallel foreign exchange markets amid sustained liquidity support and continued monitoring by market participants.
Data released by the Central Bank of Nigeria showed the naira trading around ₦1,375.41/$ at the Nigerian Foreign Exchange Market (NFEM), reflecting minimal movement from recent trading sessions.
Analysts said the official market continues to benefit from improved foreign exchange inflows and ongoing interventions by the apex bank aimed at stabilising the local currency.
At the parallel market, commonly referred to as the black market, the dollar traded at an average buying rate of about ₦1,378 and a selling rate of approximately ₦1,390 on Friday.
The spread between the official and unofficial market rates remained relatively narrow compared to previous months, a development market observers attributed to improved FX liquidity and growing confidence in the foreign exchange market.
Recent trading trends have shown the naira fluctuating within the ₦1,360 to ₦1,390 range against the dollar as importers, manufacturers and other end users continue to monitor supply conditions.
Currency traders noted that demand for the US dollar remained steady despite efforts by the Central Bank to increase supply through the official window.
The NFEM rate remains Nigeria’s benchmark official exchange rate and is determined through a volume-weighted average of completed market transactions.
naira recorded a relatively stable performance on Tuesday, May 26, 2026, trading within a narrow band against the United States dollar across both the official and parallel foreign exchange markets.
At the official window of the Central Bank of Nigeria, the naira exchanged at about ₦1,375 to the dollar under the Nigerian Foreign Exchange Market (NFEM), with intraday movements ranging between ₦1,374 and ₦1,377.
Market data indicated that the currency’s steadiness was supported by improved foreign exchange liquidity, sustained investor confidence, and expectations of additional inflows into the economy. Analysts also noted moderate trading activity in the interbank FX market despite periodic demand pressures.
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