The naira traded with slight fluctuations against the United States dollar across the official and parallel foreign exchange markets on Monday, May 18, 2026.

Demand pressure for forex persisted during the trading session.

Data from the Nigerian Foreign Exchange Market (NFEM) showed the official exchange rate hovering around ₦1,371 per dollar.

This was according to the latest figures published by the Central Bank of Nigeria and market trackers.

The market recorded intraday movements between approximately ₦1,369 and ₦1,374 per dollar.

At the parallel market, also known as the black market, the dollar exchanged at around ₦1,395 buying rate and ₦1,405 selling rate in major trading hubs including Lagos and Abuja.

The gap between the official market and the parallel market remained relatively narrow compared to previous months.

This reflected continued efforts by the Central Bank of Nigeria to improve liquidity and stabilise the foreign exchange market.

Analysts said sustained interventions and improved dollar supply to authorised dealers have helped reduce volatility in recent weeks.

Recent trading sessions have also shown the naira maintaining relative stability within the ₦1,360 to ₦1,380 range at the official window.

This stability persisted despite ongoing demand from importers, manufacturers, and individuals seeking foreign exchange for travel and business transactions.

Market watchers, however, noted that global oil price movements, foreign reserve levels, and investor confidence would continue to influence the direction of the naira in the coming days.