The Nigerian naira recorded a slight depreciation against the United States dollar across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Tuesday, May 19, 2026, amid continued demand pressures in the foreign exchange market.
Data published by the Central Bank of Nigeria showed that the naira traded at about ₦1,373.5 per dollar at the NFEM window, compared to ₦1,372 recorded in the previous session. The movement represents a marginal weakening of the local currency at the official market.
At the parallel market, also known as the black market, the dollar exchanged at around ₦1,395/$, up from approximately ₦1,390/$ recorded at the close of trading last Friday. This widened the gap between the official and unofficial market rates to about ₦21.5 per dollar.
Market analysts attributed the latest fluctuation to sustained demand for foreign exchange from importers and manufacturers, despite ongoing interventions by monetary authorities aimed at stabilising the naira.
The CBN’s exchange rate data also indicated that turnover in the interbank foreign exchange market increased significantly to about $76.3 million, reflecting improved trading activity in the market.
Meanwhile, external data trackers showed the USD/NGN exchange rate hovering around ₦1,371 on Tuesday, suggesting relatively stable performance in recent trading sessions despite mild volatility.
