The Nigerian naira traded within a tight range against the United States dollar on Tuesday, May 26, 2026, in both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as the Central Bank of Nigeria continues efforts to stabilise the forex market.
At the official window, data from the Central Bank of Nigeria showed the naira exchanging at about ₦1,375 to the dollar. Recent trading figures placed the rate between ₦1,374 and ₦1,377 during the day’s sessions.
Market analysts linked the relative stability to improved foreign exchange liquidity, sustained investor confidence, and expectations of additional inflows into the financial system. Reports also indicated that interbank market turnover remained moderate despite slight demand fluctuations.
In the parallel market, also known as the black market, the dollar was sold at around ₦1,390 to ₦1,397, while buying rates ranged between ₦1,385 and ₦1,390 depending on location and transaction size.
The gap between official and parallel market rates remained relatively small, reflecting ongoing reforms by the Central Bank aimed at improving transparency and liquidity in the foreign exchange system.
Currency traders said demand from importers, travellers, students, and businesses continued to put pressure on the naira despite recent stability in the official market.