Nigeria’s naira traded with relative stability against the United States dollar on Tuesday, May 12, 2026, as the local currency continued to show resilience across the official foreign exchange market.
According to data from the Central Bank of Nigeria (CBN), the naira exchanged around the ₦1,360/$ range at the Nigerian Foreign Exchange Market (NFEM), reflecting ongoing efforts by monetary authorities to stabilise liquidity and moderate volatility in the forex market.
Intraday trading indicated that the currency moved within a narrow band, suggesting improved market confidence and balanced demand-supply dynamics in the official window.
Analysts said recent policy measures by the CBN, alongside increased market interventions and improved foreign exchange inflows, have helped sustain the naira’s relative stability.
Meanwhile, activity in the parallel market remained closely aligned with official rates at ₦1,375/$ (depending on your location), a development market observers say points to gradual convergence in Nigeria’s foreign exchange ecosystem.
Economic analysts noted that the direction of the naira in the coming days will depend largely on external reserves performance, crude oil earnings, foreign portfolio inflows, and the Central Bank’s continued management of dollar liquidity.
The naira had recorded modest gains in recent trading sessions, supported by improved sentiment in the foreign exchange market and tighter regulatory oversight aimed at curbing speculative pressure on the local currency.
