The naira eased versus the US dollar on the official foreign exchange window on Tuesday as Nigeria looked ahead to the Eid-ul-Adha holidays, with only minimal movement from the prior session. Traders also saw steadier pricing in the parallel market, where rates held unchanged.
Key takeaways
- On the official market, the naira slipped to N1,375.41 per dollar on Tuesday.
- The official rate marked a small day-on-day decline of N0.48 from Monday’s N1,374.92.
- In the black market, the naira stayed at N1,395 per dollar on Tuesday, unchanged from Monday.
- Nigeria’s external reserves rose to $49.26 billion as of May 25, 2026.
Official and parallel-market moves ahead of Eid
Central Bank of Nigeria figures showed the naira weakening at the official foreign exchange market on Tuesday, falling to N1,375.41 per dollar. That compared with N1,374.92 traded on Monday, implying a decline of 48 kobo against the greenback on a day-to-day basis.
By contrast, the parallel exchange market was stable. The naira remained flat at N1,395 per dollar on Tuesday, the same level recorded on Monday, indicating limited short-term pressure outside the official window.
Reserves build and the start of the week
The currency’s earlier momentum also reflected improved macro buffers. The country’s external reserves climbed to $49.26 billion as of May 25, 2026, supporting expectations that liquidity conditions may have strengthened. Earlier, the naira had firmed across both the official and black markets on Monday, setting what was described as a positive tone before the holiday period.
