The Nigerian naira recorded slight movements against the United States dollar on Monday, May 18, 2026, across both the official and parallel foreign exchange markets amid continued demand for forex.
Figures from the Nigerian Foreign Exchange Market showed the naira trading around ₦1,371 per dollar at the official window.
Market data indicated intraday fluctuations between approximately ₦1,369 and ₦1,374 to the dollar during trading.
At the parallel market, popularly known as the black market, the dollar traded at about ₦1,395 for buying and around ₦1,405 for selling in major cities including Lagos and Abuja.
The difference between the official exchange rate and the black market rate remained relatively moderate compared to previous months, suggesting improved liquidity in the foreign exchange market.
Analysts attributed the relative stability of the naira to continued interventions by the Central Bank of Nigeria and improved dollar supply to authorised dealers.
Recent market trends have seen the local currency maintain movement within the ₦1,360 to ₦1,380 range at the official market despite sustained demand from importers, manufacturers, travellers and other forex users.
Financial experts, however, noted that crude oil prices, Nigeria’s foreign reserves and investor confidence would remain key factors influencing the direction of the naira in the coming days.
