Nigeria’s naira ended May 2026 at N1,372 per US dollar, representing a slight decline from N1,367/$ recorded at the end of April.
The 0.36 per cent depreciation, however, did little to overshadow the currency’s strong performance over the past year.
Compared to the N1,585.50/$ exchange rate recorded at the end of May 2025, the naira has appreciated by N213.50, translating to a 13.5 per cent gain against the dollar.
The improvement reflects increased stability in the foreign exchange market, supported by stronger liquidity, ongoing reforms and growing investor confidence.
Data from the Central Bank of Nigeria showed that the naira opened May at N1,367.50/$ and strengthened to N1,358.01/$ on May 7, its best level during the month.
For most of May, the currency traded within a narrow range of N1,372/$ to N1,375/$ before closing at N1,372/$ on May 29.
Analysts say the limited movement in the exchange rate suggests a
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