Naira to US dollar exchange rate on Tuesday, May 12, 2026

On Tuesday, May 12, 2026, the Nigerian naira showed modest movement against the U.S. dollar, trading at roughly ₦1,358 per dollar in the official Nigerian Foreign Exchange Market (NFEM). In the parallel market, the dollar was quoted between ₦1,400 and ₦1,410 amid sustained demand for foreign currency.

Data from the Central Bank of Nigeria indicated a slight appreciation of the naira in the official market relative to earlier sessions, suggesting ongoing attempts to stabilise the foreign‑exchange market.

Within the NFEM, the dollar was quoted between ₦1,352 and ₦1,365, varying with transaction size and the banks involved.

Surveys of Bureau De Change operators in Lagos, Abuja and other major cities showed black‑market rates of roughly ₦1,390 for buying dollars and ₦1,400‑₦1,410 for selling.

Demand Pressure Persists

Financial analysts linked the naira’s relative stability to ongoing Central Bank interventions and higher foreign‑exchange inflows into the official market.

They also warned that growing demand for dollars from importers, manufacturers, overseas school fee payments and international travel continues to pressure the local currency.

Market observers highlighted the shrinking difference between official and parallel rates as an indication of rising confidence in the formal forex market.

Market Outlook Remains Cautious

Despite recent stability, experts cautioned that inflationary pressures and external sector vulnerabilities could still impact the naira’s performance in the weeks ahead.

Currency dealers noted that changes in global crude‑oil prices, foreign portfolio inflows, and forthcoming Central Bank monetary‑policy decisions will remain critical drivers of the forex market.