The Nigerian naira posted minor fluctuations against the United States dollar in both the official and parallel foreign exchange markets on Monday, May 18, 2026, amid sustained demand for forex.
Figures from the Nigerian Foreign Exchange Market showed the official exchange rate trading around ₦1,371 per dollar, based on data released by the Central Bank of Nigeria and market monitors. Intraday trading reportedly ranged between ₦1,369 and ₦1,374 per dollar.
At the parallel market, popularly called the black market, the dollar traded at about ₦1,395 buying rate and ₦1,405 selling rate across key trading centres in Lagos and Abuja.
The difference between the official and parallel market rates remained relatively slim compared to previous months, reflecting ongoing efforts by the Central Bank of Nigeria to boost liquidity and steady the forex market.
Analysts said continuous interventions and improved dollar supply to authorised dealers have contributed to easing volatility in recent weeks.
Recent market activity has also seen the naira maintain relative stability within the ₦1,360 to ₦1,380 range at the official window, despite persistent demand from importers, manufacturers and individuals seeking foreign exchange for travel and business needs.
Observers, however, noted that movements in global oil prices, foreign reserve levels and investor confidence would continue to shape the naira’s performance in the coming days.