NGN Market Update
14 May 2026 • 00:41 GMT
The Nigerian Naira (NGN) has dipped to its 7-day lows against the US dollar, trading near 0.000730. This recent decline places it just below its 3-month average, within a stable trading range between 0.000715 and 0.000746. The move follows a period of relative stability, with the NGN maintaining similar levels over the past week.
Despite these short-term fluctuations, recent developments provide a cautiously optimistic outlook for the NGN. The Central Bank of Nigeria’s (CBN) large forex interventions this year, including injecting $7.5 billion into the market, have helped support the naira. Policy reforms and improved market access through licensed bureau de change operators are also contributing to potential stability. Experts believe the NGN could trade between N1,400 and N1,500 per dollar in 2026, supported by rising reserves and steady oil revenues.
However, caution remains as global factors such as oil prices, foreign investment inflows, and geopolitical concerns could influence the currency's trajectory. For now, expect some fluctuations within the current range, with a modest bias toward stability if current measures hold.