- Dollar To Naira Exchange Rate Today, May 2nd, 2026
- Official CBN rate ranges between ₦1370 and ₦1378
- Exchange rate gap reflects ongoing pressure on naira
The naira maintained relative stability against the United States dollar in the parallel market on Friday, as traders reported slight variations in buying and selling rates across major cities in Nigeria.
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EKO HOT BLOG reports that Market checks show that the black market continues to serve as a key source of foreign exchange for many Nigerians, especially amid ongoing pressure on official supply channels. Demand for the dollar remains high, driven by import needs, travel requirements, and business transactions.
Below is the current breakdown of the exchange rates:
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1385
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1378
Lowest Rate ₦1370
At the official window, the Central Bank of Nigeria continues to manage exchange rates within a controlled band, with slight fluctuations recorded between the highest and lowest rates for the day.
Economic analysts say the gap between the official and parallel market rates remains a concern, as it reflects underlying pressure on the naira and limited foreign exchange liquidity in the system.
Experts also note that while recent monetary policies have attempted to stabilise the currency, sustained improvement will depend on increased dollar inflows, export growth, and reduced reliance on imports.
For now, Nigerians continue to monitor the exchange rate closely, as it directly impacts the cost of goods, services, and overall living conditions.
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