Naira Trades Flat as Interbank Turnover Jumps 31.91%
By Aboki Forex —
The naira held steady against the dollar across foreign exchange market segments on Tuesday, supported by increased interbank transactions and rising external reserves.
Data from the Central Bank of Nigeria (CBN) showed the naira depreciated marginally by 49 kobo at the Nigerian Foreign Exchange Market (NFEM). The dollar was quoted at N1,375.41 on Tuesday, compared to N1,374.92 on Monday.
Total turnover in the interbank segment rose to $73.59 million on Tuesday, a 31.91% increase from $55.79 million recorded on Monday. Interbank deals also jumped by 54.93%, rising from 71 transactions on Monday to 110 deals on Tuesday.
At the NFEM window, however, total turnover declined sharply by 59.03% to $175.34 million on Monday, down from $428.01 million on Friday. The number of deals at the window also fell to 217 on Monday from 248 recorded on Friday.
In the parallel market, the naira traded steady at between N1,393 and N1,395 per dollar on Tuesday.
Nigeria’s external reserves rose by $930 million to $49.25 billion as of May 25, 2026, from $48.32 billion recorded on May 7, 2026. The CBN said gross external reserves stood at $49.49 billion as of May 15, 2026, compared with $48.35 billion at the end of March 2026. This is enough to cover 9.04 months of imports.