The Nigerian naira maintained a relatively stable performance against the United States dollar on Thursday, May 28, 2026, in both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, supported by ongoing interventions and improved liquidity.
Data from the Central Bank of Nigeria showed that the currency traded at about ₦1,375.41 per dollar at the official NFEM window, sustaining the stability recorded in recent sessions.
In the parallel market, also known as the black market, the dollar exchanged at an average selling rate of around ₦1,390 and a buying rate of approximately ₦1,378 during Thursday morning trading.
Market operators attributed the narrow difference between the official and parallel market rates to stronger forex supply and continued reforms by the Central Bank of Nigeria aimed at stabilising the market.
Recent trends show the naira has largely fluctuated within the ₦1,370 to ₦1,390 range over the past week, indicating reduced volatility compared to earlier periods of sharp movements.
Financial analysts say investors and businesses are closely watching liquidity conditions, external reserves, and monetary policy decisions, which continue to shape exchange rate movements in the country.
The Central Bank of Nigeria has also maintained that its ongoing foreign exchange reforms are focused on improving transparency, strengthening investor confidence, and ensuring long-term stability of the naira.