RismadarVoice Reporters, May 20, 2026
The Nigerian currency strengthened against the United States dollar in the parallel market on Tuesday, appreciating to N1,385 per dollar from N1,395 traded on Monday.
However, the naira recorded a marginal decline in the Nigerian Foreign Exchange Market (NFEM), reflecting mixed movements across the country’s foreign exchange segments.
Data released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate in the official market weakened slightly to N1,373.65 per dollar from N1,373.50 per dollar recorded the previous day.
The movement represents a depreciation of 15 kobo for the local currency in the official market.
As a result of the gains recorded in the parallel market and the slight decline in the official market, the gap between both exchange windows narrowed significantly to N11.35 per dollar from N21.50 per dollar on Monday.
Meanwhile, activity in the interbank foreign exchange market recorded a decline, with turnover dropping by five per cent.
Market figures indicated that total transactions fell to $72.4 million, compared to $76.3 million recorded in the previous trading session.
The latest development reflects continued fluctuations in Nigeria’s foreign exchange market as investors and traders closely monitor currency movements and liquidity conditions.
