Dollar To Naira Exchange Rate Today, May 31, 2026

Dollar To Naira Exchange Rate Today, May 31, 2026
Official market rates ranged between ₦1,372 and ₦1,375.
Naira remained relatively stable across both forex markets.

The Dollar to Naira exchange rate remained relatively stable on Sunday, May 31, 2026, across both the black market and the official foreign exchange market.

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EKO HOT BLOG reports that traders in the parallel market, popularly known as the black market, exchanged the United States Dollar at an average selling rate of ₦1,384 and a buying rate of ₦1,376. The rates reflect ongoing demand for foreign currency despite recent efforts to improve liquidity in the official market.

Meanwhile, data from the official market showed only a narrow gap between the highest and lowest exchange rates recorded during trading activities.

Dollar to Naira (USD/NGN)	Exchange Rate
Black Market Buying Rate	₦1,376
Black Market Selling Rate	₦1,384
CBN Highest Rate	₦1,375
CBN Lowest Rate	₦1,372

The close margin between official and parallel market rates suggests continued stability in Nigeria’s foreign exchange market. Analysts have attributed recent exchange rate movements to improved dollar inflows, monetary policy reforms, and efforts aimed at reducing pressure on the naira.

However, exchange rates may vary across locations, banks, and Bureau De Change operators depending on demand and availability of foreign currency.

Individuals and businesses involved in foreign exchange transactions are advised to confirm prevailing rates from their preferred financial institutions before concluding transactions.

Dollar To Naira Exchange Rate Today, May 31, 2026

Market observers will continue to monitor developments in the coming weeks, particularly movements in global oil prices, foreign reserves, and monetary policies, which remain key factors influencing the value of the naira against major international currencies.