Nigeria Today's Dollar to Naira Rate: Dollar to Naira Snapshot Rate for 18 May 2026

Key points:

• Official CBN (NFEM) Rate: N1,371 per US Dollar
• Black-Market Rate: N1,395 - N1,405 per US Dollar (buying - selling)
• Drivers: Slight fluctuations amid persistent demand pressure; Official rate traded between N1,369 and N1,374 per dollar; Narrow gap between official and parallel markets reflecting continued CBN interventions and improved dollar supply to authorized dealers.
• Top Tools: FMDQ for NFEM Data, CBN Forex Portal, Aboki FX for Parallel Market Rates

The Naira traded with slight fluctuations against the US dollar on Monday, with the official rate hovering around N1,371 per dollar. Intraday movements ranged between N1,369 and N1,374. The parallel market traded at N1,395 buying and N1,405 selling in major hubs like Lagos and Abuja. The naira has maintained relative stability within the N1,360 to N1,380 range at the official window despite ongoing demand.

FAQ

• What is the gap between CBN and black market rates? The premium stands at approximately N24 to N34. The gap remained relatively narrow compared to previous months, reflecting sustained CBN interventions and improved dollar supply that have helped reduce volatility.
• Will the naira strengthen further? The naira has maintained relative stability within the N1,360 to N1,380 range at the official window. However, global oil price movements, foreign reserve levels, and investor confidence will continue to influence the currency's direction in the coming days.
• How do oil prices affect rates? Market watchers note that global oil price movements, along with foreign reserve levels and investor confidence, are key factors that will influence the naira's direction. Sustained interventions and improved dollar supply have helped stabilize the market, but demand from importers, manufacturers, and individuals for travel and business transactions persists.