On Monday, May 18, 2026, the Nigerian naira saw minor swings against the US dollar on both the official and unofficial foreign exchange markets due to ongoing demand pressure.
According to the most recent figures released by the Central Bank of Nigeria and market trackers, data from the Nigerian Foreign Exchange Market (NFEM) indicated that the official exchange rate was approximately ₦1,371 per dollar. The market moved between roughly ₦1,369 and ₦1,374 per dollar during the day.
According to Techeconomy Intelligence, the dollar traded at a buying rate of about ₦1,395 and a selling rate of about ₦1,405 in major trading hubs such as Lagos and Abuja on the parallel market (black market).
Brandspur banking and finance news desk reports that as a result of the Central Bank of Nigeria’s ongoing efforts to increase liquidity and stabilise the foreign exchange market, the difference between the official and parallel markets remained comparatively small compared to earlier months.
Sustained interventions and better dollar supply to authorised dealers, according to analysts, have helped lower volatility in recent weeks.
Despite continuous demand from importers, manufacturers, and individuals looking for foreign exchange for travel and business transactions, recent trading sessions have also shown the naira maintaining relative stability within the ₦1,360 to ₦1,380 range at the official window.
However, market observers pointed out that investor confidence, foreign reserve levels, and changes in the price of oil globally would continue to impact the naira’s trajectory in the days ahead.
