The Nigerian naira traded within a relatively stable range against the United States dollar on Friday, May 29, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market amid sustained liquidity support and close monitoring by market participants.
Figures released by the Central Bank of Nigeria (CBN) showed that the dollar exchanged at about ₦1,375.41 at the NFEM window, reflecting minimal movement compared to recent trading sessions.
Market analysts said the official market continued to benefit from improved foreign exchange inflows and ongoing interventions targeted at strengthening the naira.
At the parallel market, popularly known as the black market, the dollar traded at an average buying rate of around ₦1,378 and a selling rate of approximately ₦1,390 on Friday.
Analysts noted that the difference between the official and parallel market rates remained relatively narrow compared to previous months, attributing the trend to improved FX liquidity and rising investor confidence.
Recent market activity has seen the naira fluctuate between ₦1,360 and ₦1,390 against the dollar across both markets, as importers, manufacturers, and other end users continue to monitor foreign exchange supply levels.
Currency traders added that demand for the greenback remained steady despite the CBN’s efforts to boost FX availability through the official market window.
The NFEM rate remains Nigeria’s official exchange rate benchmark and is determined through a volume-weighted average of completed transactions during trading sessions.