NAIRA POSTS MIXED PERFORMANCE AGAINST DOLLAR AT OFFICIAL, PARALLEL MARKETS
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The Nigerian naira recorded mixed performance against the United States dollar on Thursday, May 14, 2026, across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as traders monitored liquidity conditions and interventions by the Central Bank of Nigeria.
At the official market, data from the Central Bank of Nigeria showed the naira trading at about ₦1,375.62 to the dollar at the NFEM window, supported by improved foreign exchange supply and stronger market turnover.
Market reports indicated that FX turnover at the official market recently climbed to approximately $1.89 billion in single-day trading, reflecting increased liquidity and stronger participation by banks and investors.
Analysts said the improved turnover has helped ease pressure on the local currency in recent trading sessions.
In the parallel market, commonly referred to as the black market, the dollar traded between ₦1,395 and ₦1,405, depending on location and transaction volume.
Bureau De Change operators in Lagos and Abuja reportedly quoted buying rates around ₦1,385 to ₦1,395 and selling rates between ₦1,400 and ₦1,405.
Reports also showed that the exchange rate gap between the official and parallel markets remained relatively narrow at between ₦20 and ₦30, compared to wider margins recorded earlier in the year.
Financial analysts attributed the naira’s relative stability to sustained interventions by the Central Bank, rising external reserves, and improved investor confidence in the foreign exchange market.
Nigeria’s external reserves were recently estimated at about $48.48 billion.
However, currency dealers noted that continued demand for foreign exchange by importers, travellers, and businesses outside the formal banking system remains a major factor influencing rates in the parallel market despite ongoing reforms in the FX sector.
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