The Nigerian currency maintained relative stability against the United States Dollar in early trading on Friday, May 22, 2026, with both the official and parallel markets recording closely aligned exchange rates.
At the official Nigerian Foreign Exchange Market (NFEM), the Naira traded at approximately ₦1,370.05 to the Dollar, remaining within the previous session’s range of about ₦1,371 to ₦1,373.
Market observers noted that the official window has remained relatively calm and liquid, supported by sustained interbank activity and continued interventions by the Central Bank of Nigeria aimed at limiting sharp fluctuations in the exchange rate.
In the parallel market, currency traders in major cities including Lagos, Abuja and Kano reported buying rates of around ₦1,370 per Dollar and selling rates near ₦1,372.
The close convergence between official and informal market rates marks a significant reduction in the exchange gap that has historically existed between both segments, a development analysts say reflects reduced speculative activity.
Economic analysts attributed the Naira’s current stability to lower retail demand for foreign exchange and the Central Bank’s tight monetary policy stance.
With the Monetary Policy Rate maintained at 26.5 percent, analysts believe the CBN’s liquidity control measures are helping to stabilise the currency, discourage speculation, and provide greater certainty for businesses and investors.