The Nigerian naira posted a marginal appreciation against the United States dollar on Wednesday, May 13, 2026, across both the official and parallel foreign exchange markets amid improving liquidity and sustained interventions by the Central Bank of Nigeria.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the naira traded at about ₦1,373/$ at the official window, improving slightly from roughly ₦1,375/$ recorded in the previous trading session.
The development reflects a modest gain for the local currency as the regulated market continued to witness improved dollar supply and stronger participation from authorised dealers.
At the parallel market, popularly known as the black market, the naira exchanged between ₦1,395 and ₦1,405/$ in Lagos and other major trading centres on Wednesday, representing a slight appreciation compared to rates recorded earlier in the week.
Financial analysts linked the improved performance of the naira to increased forex liquidity in the official market, reduced speculative activities, and continued interventions by the Central Bank of Nigeria aimed at stabilising the exchange rate and reducing pressure on the local currency.
The gap between the official NFEM rate and the parallel market rate narrowed to about ₦20–₦30/$, indicating relative stability in the foreign exchange market compared to wider spreads recorded earlier in the year.
Meanwhile, turnover at the NFEM window also rose, signalling stronger activity among foreign exchange traders and authorised dealers despite persistent demand pressures from importers, international school fee payments, business transactions, and travel-related obligations.
The naira depreciated to N1,387 per dollar at the parallel market on Monday, weakening from N1,383/$ recorded last Thursday.
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However, the local currency appreciated at the Nigerian Foreign Exchange Market (NFEM), where it closed at N1,367.5/$.
Data released by the Central Bank of Nigeria showed that the indicative exchange rate improved from N1,374/$ last Thursday to N1,367.5/$, representing a N6.5 gain for the naira at the official market.
As a result of the mixed performance across both segments, the gap between the parallel market and the official exchange rate widened to N19.5/$ from N9/$ recorded last Thursday.
Meanwhile, activity at the interbank foreign exchange market strengthened, with turnover rising by 3.2 percent to $59.93 million compared to $58.03 million recorded in the previous trading session.
The Nigerian naira maintained relative stability against the United States dollar on Monday, May 11, 2026, trading within a narrow range at both the official and parallel foreign exchange markets amid ongoing interventions by the Central Bank of Nigeria (CBN) and cautious investor sentiment.
