Naira stabilizes at ₦1,375.41/dollar as CBN reforms show effect

The naira traded at ₦1,375.41 per dollar in the Nigerian Foreign Exchange Market (NFEM) on Thursday, maintaining steady performance. Currency traders attribute this stability to improved foreign exchange supply and ongoing Central Bank reforms aimed at increasing transparency and investor confidence. The naira has largely traded within ₦1,370 to ₦1,390 band in the past week, showing reduced volatility compared to earlier sharp fluctuations. Businesses and investors continue monitoring liquidity levels, external reserves, and monetary policy decisions which drive exchange rate movements. With this relative stability, should businesses delay foreign exchange transactions or capitalize on the current calm window to plan import/export strategies?

SOURCE: https://www.channelstv.com/2026/05/28/naira-to-dollar-exchange-rate-today-may-28-2026/