The Nigerian naira recorded slight fluctuations against the United States dollar across both the official and parallel foreign exchange markets on Monday, May 18, 2026, as pressure on forex demand continued.
Figures from the Nigerian Foreign Exchange Market (NFEM) showed the official exchange rate trading around ₦1,371 per dollar, based on the latest data released by the Central Bank of Nigeria and market trackers. Intraday trading saw the currency move between roughly ₦1,369 and ₦1,374 per dollar.
At the parallel market, commonly referred to as the black market, the dollar traded at about ₦1,395 buying rate and ₦1,405 selling rate across key trading centres including Lagos and Abuja.
The margin between the official and parallel markets remained relatively narrow compared to previous months, highlighting ongoing efforts by the Central Bank of Nigeria to boost liquidity and maintain stability in the foreign exchange market. Analysts stated that continuous interventions and improved dollar supply to authorised dealers have contributed to reducing volatility in recent weeks.
Recent trading activities have also seen the naira maintain relative stability within the ₦1,360 to ₦1,380 range at the official market window, despite sustained demand from importers, manufacturers, and individuals seeking foreign exchange for travel and business purposes.
Market analysts, however, noted that movements in global oil prices, foreign reserve strength, and investor confidence will continue to shape the direction of the naira in the coming days.
