The Nigerian naira traded at around ₦1,375.41 against the United States dollar at the official Nigerian Foreign Exchange Market on Friday, May 29, 2026.
At the parallel market, the dollar exchanged between ₦1,378 and ₦1,390, reflecting continued stability in the foreign exchange market.
Data released by the Central Bank of Nigeria showed that the naira recorded only slight movement compared to recent trading sessions.
Market analysts linked the relative stability to sustained foreign exchange liquidity support and ongoing interventions by monetary authorities.
At the black market, the dollar traded at an average buying rate of about ₦1,378 and a selling rate of approximately ₦1,390 on Friday.
Traders noted that the gap between the official and parallel market rates remained narrower than levels seen in previous months.
Analysts said improved FX inflows and stronger confidence among market participants have helped reduce pressure on the naira in recent weeks.
Recent trading activity has seen the local currency fluctuate within the ₦1,360 to ₦1,390 range against the dollar across both markets.
Importers, manufacturers and other end users continue to monitor foreign exchange supply conditions as demand for the greenback remains steady.
Currency dealers said pressure on the dollar persisted despite efforts by the Central Bank to improve supply through the official trading window.
The NFEM rate remains Nigeria’s official exchange rate benchmark and is calculated using a volume-weighted average of completed market transactions.
