Search

    Select Website Language

    GistReel

    The Nigerian naira traded around ₦1,375 per dollar at the official Nigerian Foreign Exchange Market (NFEM) and between ₦1,385 and ₦1,400 in the parallel market on Monday, May 25, 2026, reflecting a relatively stable but still pressured currency environment.

    Data from the Central Bank of Nigeria showed that the official rate hovered near ₦1,375 per dollar, close to the last recorded closing rate of ₦1,375.46 on May 22.

    Official Market Performance

    The official market, operated through the NFEM window by the Central Bank of Nigeria, continued to serve as the benchmark for exchange rate pricing in the country.

    It uses a volume-weighted average system to determine daily rates, helping to reflect overall market demand and supply conditions.

    Parallel Market Activity in Lagos and Abuja

    In the parallel market, operators in Lagos and Abuja quoted the dollar at around ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling.

    Currency tracking platforms also placed street trading rates close to ₦1,397 per dollar during morning trading hours.

    Market Pressure and Dollar Demand

    The gap between official and parallel market rates continued to reflect strong demand pressure in retail foreign exchange transactions.

    Despite ongoing reforms, scarcity of dollars in some segments still pushes traders towards higher street market pricing.

    Outlook for the Naira

    Analysts noted that recent stability has been supported by improved dollar liquidity and tighter monetary policy measures.

    However, import demand and global market volatility continue to pose risks to sustained exchange rate stability.

    Previous Article
    Memorial Day 2026: Here’s what to know
    Next Article
    Man ends relationship after girlfriend demands money bouquet as apology over argument

    Related Diaspora Updates:

    Are you sure? You want to delete this comment..! Remove Cancel

    Comments (0)

      Leave a comment