The Nigerian naira experienced a marginal decline against the United States dollar on Tuesday, May 19, 2026, in both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, driven by sustained pressure in demand within the forex space.
Figures released by the Central Bank of Nigeria indicated that the currency exchanged at about ₦1,373.5 per dollar at the NFEM window, slightly higher than the ₦1,372 recorded in the previous trading session, reflecting a mild weakening at the official rate.
In the parallel market, commonly referred to as the black market, the dollar traded at around ₦1,395/$, compared to about ₦1,390/$ at the end of trading last Friday. This movement expanded the spread between official and unofficial market rates to roughly ₦21.5 per dollar.
Analysts linked the fluctuation to persistent demand for foreign exchange from importers and manufacturers, even as monetary authorities continue efforts to stabilise the currency.
CBN data further showed that trading activity in the interbank foreign exchange market rose to approximately $76.3 million, indicating increased market participation.
External market trackers also placed the USD/NGN rate at about ₦1,371 on Tuesday, pointing to relative stability in recent sessions despite slight volatility.