Naira to Dollar exchange rate today, Tuesday, May 19, 2026
The Nigerian naira weakened slightly against the United States dollar on Tuesday, May 19, 2026, trading at about ₦1,373.5/$ at the official Nigerian Foreign Exchange Market (NFEM) and around ₦1,395/$ at the parallel market, as pressure on foreign exchange demand persisted across the country.
The latest figures reflected continued volatility in Nigeria’s foreign exchange market despite efforts by monetary authorities to stabilise the naira.
At the black market, commonly referred to as the parallel market, the dollar gained further strength against the naira.
Traders exchanged the greenback at approximately ₦1,395/$ compared to about ₦1,390/$ recorded at the close of trading last Friday.
Gap Between Official And Parallel Market Widens
The development widened the gap between the official and unofficial exchange rates to roughly ₦21.5 per dollar, highlighting persistent disparities in the country’s forex market.
Financial analysts linked the latest depreciation to sustained demand for foreign exchange by importers, manufacturers, and other businesses requiring access to dollars for international transactions.
Experts also noted that although the Central Bank has maintained several intervention measures, pressure on the local currency has continued due to strong demand and limited foreign exchange supply.
Interbank Forex Turnover Improves
Meanwhile, data from the apex bank indicated that activity at the interbank foreign exchange market improved significantly during the trading session.
Market turnover reportedly rose to about $76.3 million, signalling stronger participation and improved liquidity within the official forex market.
External market trackers also showed the USD/NGN exchange rate hovering around ₦1,371 on Tuesday, suggesting that the naira has remained relatively stable in recent sessions despite mild fluctuations witnessed across trading windows.
The latest movement comes as businesses and investors continue to monitor Nigeria’s foreign exchange policies and broader economic conditions affecting the value of the naira.