The Nigerian naira maintained relative stability against the United States dollar on Thursday, May 28, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, supported by sustained market interventions and improved liquidity conditions.
Figures published by the Central Bank of Nigeria indicated that the naira exchanged at approximately ₦1,375.41 per dollar at the official NFEM market, sustaining its recent stable trend.
At the parallel market, also known as the black market, the dollar exchanged at an average selling rate of about ₦1,390 and a buying rate of around ₦1,378 on Thursday morning.
Currency traders attributed the narrow gap between the official and parallel market rates to improved foreign exchange supply and continued reforms introduced by the Central Bank of Nigeria to stabilise the market.
Recent market data also indicated that the naira has largely traded within the ₦1,370 to ₦1,390 band in the past week, reflecting reduced volatility compared to earlier periods of sharp fluctuations.
Financial analysts say investors and businesses continue to monitor liquidity levels, external reserves and monetary policy decisions, which remain key drivers of exchange rate movements in Nigeria’s foreign exchange market.
Meanwhile, the Central Bank of Nigeria has maintained that ongoing reforms in the FX market are aimed at improving transparency, boosting investor confidence and achieving long-term stability for the naira.
