Naira depreciates slightly to ₦1,373.5 against dollar on Tuesday

Naira depreciates slightly to ₦1,373.5 against dollar on Tuesday. The currency traded at ₦1,373.5 per dollar at the Nigerian Foreign Exchange Market window, down from ₦1,372 in the previous session.

Market analysts attribute this slight fluctuation to sustained demand for foreign exchange from importers and manufacturers, despite ongoing CBN interventions aimed at stabilizing the naira. Interbank forex turnover increased significantly to $76.3 million, reflecting improved trading activity.

Data trackers show USD/NGN hovering around ₦1,371 in recent trading sessions despite mild volatility. Importers and businesses should monitor forex markets as CBN continues interventions while maintaining significant forex demand.

SOURCE: https://www.channelstv.com/2026/05/19/naira-to-dollar-exchange-rate-today-may-19-2026/