Dollar to Naira exchange rate on May 29, 2026

The Nigerian naira showed relative stability against the United States dollar on Friday, May 29, 2026, in both the official Nigerian Foreign Exchange Market and the parallel market, thanks to continued liquidity support and close monitoring by market participants.

According to data released by the Central Bank of Nigeria, the dollar traded at about ₦1,375.41 at the NFEM window, indicating little change from recent sessions. Market observers noted that the official market benefited from improved foreign‑exchange inflows and ongoing interventions aimed at stabilising the naira.

In the parallel market, also known as the black market, the dollar averaged a buying rate of roughly ₦1,378 and a selling rate of about ₦1,390 on Friday.

The spread between the official and parallel rates remained relatively narrow compared with earlier months, a trend analysts attribute to better FX liquidity and stronger market confidence.

Recent trading patterns have seen the naira oscillate within the ₦1,360 to ₦1,390 range against the dollar in both markets, as importers, manufacturers and other end users keep a close eye on foreign‑exchange supply conditions.

Currency traders reported that demand pressure for the greenback stayed steady despite the Central Bank’s efforts to increase supply through the official window.

The NFEM rate serves as Nigeria’s official exchange‑rate benchmark and is calculated using a volume‑weighted average of transactions completed during trading sessions.

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