The naira weakened a little on Tuesday, May 19, 2026. The official market traded at about ₦1,373.5 per dollar, down from ₦1,372 on Monday.
The black market saw the dollar sell for around ₦1,395, compared to ₦1,390 last Friday. The gap between the two markets has now widened to about ₦21.5 per dollar.
Analysts say the depreciation is due to high demand from importers, manufacturers, and businesses that need dollars for international transactions. Even with the Central Bank’s interventions, the pressure on the naira continues.
On a positive note, interbank forex turnover rose to about $76.3 million, indicating improved liquidity and stronger participation in the official market.
The naira has remained relatively stable in recent sessions despite mild fluctuations.
What do you think will the naira get stronger or weaker in the coming weeks?
