Dollar to Naira exchange rate today, May 8, 2026

The Nigerian Naira traded within a relatively stable range against the United States Dollar on Friday, May 8, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders monitored forex liquidity and Central Bank interventions.

Data from the Central Bank of Nigeria’s exchange rate portal showed that the official NFEM rate remained around the ₦1,366/$ range in recent trading sessions. The market recorded rates fluctuating between approximately ₦1,362 and ₦1,370 per dollar as supply and demand dynamics continued to shape trading activities.

In the parallel market, also known as the black market, currency dealers in Lagos and Abuja exchanged the dollar at about ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling, depending on transaction size and location.

Market analysts said the narrowing gap between the official and parallel market rates reflects improved liquidity in the formal forex market and sustained efforts by the Central Bank of Nigeria to stabilize the naira.

Traders, however, noted that demand pressure from importers, travelers, and businesses seeking foreign exchange continued to influence market sentiment despite recent gains recorded by the naira.

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