Dollar to Naira Exchange Rate on May 22, 2026

The Nigerian Naira continued its steady course against the United States Dollar in the early hours of Friday, May 22, 2026, showing stability in both the official window and the informal parallel market.

NFEM Rates Hold Steady

In the Nigerian Foreign Exchange Market (NFEM), the official trading platform, the Naira opened the morning session at 1,370.05 per US Dollar. This level is close to the previous session’s closing average, which ranged between 1,371 and 1,373.

Liquidity in the official window has remained robust, supported by steady interbank turnover and the Central Bank of Nigeria’s (CBN) structured interventions, which have effectively matched transactions and reduced sharp morning volatility.

Parallel Market Shows Strong Convergence

In informal parallel market channels across major commercial hubs such as Lagos, Abuja, and Kano, Bureau De Change (BDC) operators quoted rates tightly around 1,370 Naira for buying and 1,372 Naira for selling a US Dollar.

This close alignment between the parallel market and the official NFEM spot price indicates a sustained reduction in the speculative premium that has historically separated the two segments.

Market Outlook

Financial analysts attribute the current equilibrium to a mix of moderated retail demand and aggressive monetary policy. With the Monetary Policy Rate (MPR) set at 26.5 percent, tight liquidity control continues to anchor the local currency, deterring speculative attacks and maintaining a predictable environment for businesses and investors.

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