Naira to Dollar exchange rate today, Friday, May 8, 2026
The Nigerian Naira traded within a relatively stable range against the United States Dollar on Friday, May 8, 2026, with the official Nigerian Foreign Exchange Market (NFEM) rate trading around ₦1,366/$1, while the parallel market sold between ₦1,395 and ₦1,400 per dollar amid continued demand pressure and liquidity monitoring by the Central Bank of Nigeria.
Data from the Central Bank of Nigeria’s exchange rate portal indicated that the official NFEM rate maintained relative steadiness in recent trading sessions, staying close to the ₦1,366 per dollar level.
Traders attributed this to shifting supply and demand conditions in the foreign exchange market.
In the parallel market, commonly referred to as the black market, currency dealers in major commercial hubs such as Lagos and Abuja exchanged the United States Dollar at about ₦1,385 for buying transactions.
Selling prices ranged between ₦1,395 and ₦1,400, depending on transaction size and negotiation strength.
Market analysts attributed the relatively narrow gap between the official and parallel market rates to improved forex liquidity in the formal market.
They also pointed to sustained interventions by the Central Bank of Nigeria aimed at stabilising the naira and reducing speculative trading activities.
Despite these improvements, traders noted that persistent demand from importers, international travellers, and businesses requiring foreign currency continued to exert pressure on the market.
They added that sentiment remains cautious as participants watch for further policy signals and dollar inflows in the coming weeks.