The Nigerian naira maintained a relatively stable performance against the United States dollar on Monday, May 11, 2026, in both the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market (NFEM) showed that the naira traded around ₦1,361 per dollar during the session, with slight intraday fluctuations between approximately ₦1,355 and ₦1,366 driven by changing supply and demand conditions.
In the parallel market, Bureau De Change operators in Lagos and Abuja reportedly bought the dollar at about ₦1,385, while selling rates ranged between ₦1,395 and ₦1,405, depending on location and transaction volume.
Market operators said the small gap between official and parallel market rates reflects improved liquidity in the formal foreign exchange window.
According to analysts, the trend suggests that ongoing measures by the Central Bank of Nigeria to stabilise the currency are beginning to show some effect, even though pressures persist.
They noted that while the naira has recorded marginal stability in recent trading sessions due to increased market turnover, demand from importers and travellers continues to sustain activity in the parallel market.