Nigeria Today's Dollar to Naira Rate: Dollar to Naira Snapshot Rate for 12 May 2026

Key points:

• Official CBN (NFEM) Rate: N1,358 per US Dollar
• Black-Market Rate: N1,390 - N1,410 per US Dollar (buying - selling)
• Drivers: Sustained CBN interventions improving forex liquidity; Marginal appreciation at the official market compared to previous sessions; Narrowing spread between official and parallel markets signaling improving confidence; Strong demand from importers, manufacturers, school fee payments, and foreign travel.
• Top Tools: NFEM Data, CBN Forex Portal, Aboki FX

Your Daily Rate Fix

The Naira traded with slight fluctuations against the US dollar on Tuesday, with the official market showing marginal appreciation at an average rate of N1,358 per dollar. The dollar traded between N1,352 and N1,365 in the official window, depending on transaction volumes. The parallel market saw buying rates around N1,390 and selling rates between N1,400 and N1,410.

FAQ

• What is the gap between CBN and black market rates? The premium stands at approximately N32 to N52. The narrowing spread between official and parallel market rates is viewed by market observers as a sign of improving confidence in the formal forex market.
• Will the naira strengthen further? The relative stability is attributed to sustained CBN interventions and improved foreign exchange inflows into the official market. However, strong demand from importers, manufacturers, school fee payments, and foreign travel continues to exert pressure on the local currency. The market is expected to remain sensitive to global oil prices, foreign portfolio inflows, and future monetary policy decisions.
• How do oil prices affect rates? Currency dealers said the market will remain sensitive to global oil prices, foreign portfolio inflows, and future monetary policy decisions by the apex bank in the coming weeks. These factors, along with inflationary pressures and external sector vulnerabilities, remain key concerns.