- Dollar To Naira Exchange Rate Today, May 1, 2026
- Official CBN rate ranged between ₦1365 and ₦1386
- Gap between markets reflects ongoing forex supply challenges
The exchange rate between the United States Dollar and the Nigerian Naira remains a key concern for businesses, traders, and individuals as currency fluctuations continue to shape Nigeria’s economic outlook.
As of today, May 1, 2026, the Naira is trading at varying rates across the parallel market and the official window, reflecting ongoing pressure in the foreign exchange market and demand for the US dollar.
Below is a breakdown of the latest rates:
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Selling Rate | ₦1400 |
| Buying Rate | ₦1385 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Highest Rate | ₦1386 |
| Lowest Rate | ₦1365 |
In the black market, also known as the parallel market, the dollar is sold at ₦1400 and bought at ₦1385.
This segment continues to attract high demand due to limited access to official foreign exchange channels.
At the official window, data from the Central Bank of Nigeria shows the dollar traded between ₦1365 and ₦1386, indicating a narrower spread compared to the parallel market.
The gap between both markets highlights the ongoing imbalance in dollar supply and demand. Analysts note that factors such as import dependency, external debt obligations, and global economic conditions continue to influence the Naira’s performance.
Market observers expect continued volatility in the coming weeks, especially as global oil prices and foreign inflows remain uncertain. Stakeholders have consistently called for increased forex supply and stronger economic reforms to stabilise the currency.
FURTHER READING
- Nigerian Fraudster Admits Role in $50 Million Email Scam Network
- FG Begins Review of Agricultural Curricula to Bridge Skills Gap
- Mother Slumps, Dies While Escorting Daughter To UTME Centre In Ondo
