Fresh concerns have emerged over the performance of the Nigerian naira after the local currency recorded another decline against the United States dollar across both the official and parallel foreign exchange markets.
Trading figures released on Tuesday, May 19, 2026, showed that the naira weakened slightly at the official market window amid continued pressure from foreign exchange demand.
Data from the Central Bank of Nigeria indicated that the naira traded at approximately ₦1,373.5 to the dollar, compared to about ₦1,372 recorded in the previous trading session.
In the parallel market, commonly referred to as the black market, the dollar exchanged at around ₦1,395, reflecting a slight increase from the ₦1,390 rate recorded at the close of trading last Friday.
The development widened the gap between the official and parallel market exchange rates to roughly ₦21.5 per dollar.
Market analysts attributed the latest depreciation to sustained demand for foreign exchange by importers, manufacturers and other market participants, despite ongoing intervention measures by the Central Bank aimed at stabilising the currency.
However, trading activity at the interbank foreign exchange market recorded improvement, with turnover rising significantly to an estimated $76.3 million.
External market tracking platforms also placed the dollar-to-naira exchange rate at around ₦1,371 on Tuesday, suggesting that while the naira remains under pressure, fluctuations in recent sessions have been relatively moderate.