- Dollar To Naira Exchange Rate Today, May 3rd, 2026
- Official CBN rates ranged between ₦1370 and ₦1378
- Exchange rate gap reflects ongoing forex supply challenges
The exchange rate between the US Dollar and the Nigerian Naira remains a key concern for businesses and individuals amid ongoing economic adjustments and currency pressures.
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EKO HOT BLOG reports that as of today, activity in the parallel market, also known as the black market, shows slight fluctuations, reflecting continued demand for foreign exchange outside official channels.
Below is a breakdown of the current exchange rates:
Dollar to Naira (USD to NGN) Black Market Rate
Selling Rate ₦1398
Buying Rate ₦1387
Dollar to Naira (USD to NGN) CBN Official Rate
Highest Rate ₦1378
Lowest Rate ₦1370
The gap between the official Central Bank of Nigeria rates and the black market continues to highlight the pressure on the naira and the limited availability of foreign exchange through formal channels.
Economic analysts note that fluctuations in global oil prices, foreign reserves, and demand for imports remain key drivers influencing the exchange rate. Many businesses still rely on the parallel market due to delays and restrictions in accessing official forex.
Despite ongoing reforms and policy efforts by monetary authorities, the naira continues to face volatility, with stakeholders closely monitoring daily movements for business and investment decisions.
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