The Nigerian currency – naira – traded with slight fluctuations against the United States dollar across the official and parallel foreign exchange markets on Monday, May 18, 2026, as demand pressure for forex persisted.
Data from the Nigerian Foreign Exchange Market (NFEM) showed the official exchange rate hovering around ₦1,371 per dollar, according to the latest figures published by the Central Bank of Nigeria and market trackers. The market recorded intraday movements between approximately ₦1,369 and ₦1,374 per dollar.
Techeconomy Intelligence gathered at the parallel market, also known as the black market, the dollar exchanged at around ₦1,395 buying rate and ₦1,405 selling rate in major trading hubs including Lagos and Abuja.
The gap between the official market and the parallel market remained relatively narrow compared to previous months, reflecting continued efforts by the Central Bank of Nigeria to improve liquidity and stabilise the foreign exchange market.
Analysts said sustained interventions and improved dollar supply to authorised dealers have helped reduce volatility in recent weeks.
Recent trading sessions have also shown the naira maintaining relative stability within the ₦1,360 to ₦1,380 range at the official window, despite ongoing demand from importers, manufacturers, and individuals seeking foreign exchange for travel and business transactions.
Market watchers, however, noted that global oil price movements, foreign reserve levels, and investor confidence would continue to influence the direction of the naira in the coming days.
