- Dollar remains strong in Nigeria’s parallel foreign exchange market today.
- Black market rates continue to trade higher than official CBN rates.
- Forex demand pressure and limited supply drive naira instability further.
The Nigerian foreign exchange market opened steady on Friday, May 15th, 2026, with the dollar maintaining a strong position against the naira across both the black market and official Central Bank of Nigeria (CBN) windows.
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EKO HOT BLOG reports that traders in the parallel market reported that demand for the US dollar remained high, keeping rates elevated as importers and individuals continue to rely heavily on the unofficial market for foreign exchange access. The gap between official and parallel market rates also persists, reflecting ongoing pressure on liquidity in the formal system.
Below is the exchange rate breakdown for today:
Market Type Rate (USD to NGN) Buying Rate Selling Rate
Black Market ₦1390 – ₦1400 ₦1390 ₦1400
CBN Official Rate ₦1369 – ₦1372 ₦1369 ₦1372
The figures show that the black market continues to trade at a premium compared to the official CBN rate, highlighting sustained forex demand challenges in the country. Analysts note that speculative activity and limited dollar supply remain key drivers of the current pricing trend.
Market participants are expected to watch for possible policy signals from the Central Bank of Nigeria in the coming days as pressure mounts to stabilize the naira and improve liquidity in the official market.
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