The Nigerian Naira recorded a slight appreciation against the United States Dollar across both the official and parallel markets today, Wednesday, May 13, 2026.
This positive shift is being attributed to improved liquidity and ongoing interventions by the Central Bank of Nigeria (CBN).
Official Market (NFEM) Rates
In the Nigerian Foreign Exchange Market (NFEM), the Naira strengthened today, trading at an average of ₦1,373 per Dollar. This is an improvement from the ₦1,375 recorded in yesterday’s session. Data shows the dollar was quoted between ₦1,368 and ₦1,378 depending on the transaction volume.
Parallel Market (Black Market) Rates
At the parallel market, commonly referred to as the “black market,” the Naira also saw a marginal gain. Bureau De Change (BDC) operators in major hubs like Lagos, Abuja, and Kano reported the following rates:
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Buying Rate: ₦1,395
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Selling Rate: ₦1,405
The gap between the official and parallel market rates has narrowed significantly, now sitting at roughly ₦20–₦30, which analysts suggest is a sign of stabilizing market confidence.
