Nigeria Today's Dollar to Naira Rate: Dollar to Naira Snapshot Rate for 6 May 2026

Key points:

• Official CBN (NFEM) Rate: N1,366.56 per US Dollar
• Black-Market Rate: N1,390 - N1,395 per US Dollar (buying - selling)
• Drivers: Marginal depreciation of at least N1 from Monday's rate of N1,365.25; Official market closed at N1,362.00 per dollar; Parallel market selling rate decreased by N5 to N1,395 while buying rate held steady at N1,390.
• Top Tools: FMDQ for NFEM Data, CBN Forex Portal, Aboki FX for Parallel Market Rates

Your Daily Rate Fix

The Naira depreciated slightly against the US dollar at the official market on Tuesday, trading at N1,366.56 per dollar. This represents a marginal loss of at least N1 from Monday's rate of N1,365.25. The parallel market saw its selling rate drop by N5 to N1,395, while the buying rate remained unchanged at N1,390.

FAQ

• What is the gap between CBN and black market rates? The premium stands at approximately N23 to N28. The official market saw a slight depreciation, while the parallel market's selling rate improved, resulting in a slightly narrowed spread.
• Will the naira strengthen further? The Naira had gained N9 in the previous session before this marginal pullback of N1. The official market closed at N1,362.00, stronger than the intraday rate of N1,366.56, suggesting underlying support remains.
• How do oil prices affect rates? The article focuses on daily market dynamics. The slight depreciation appears to be a minor correction following Monday's significant N9 gain rather than a shift in fundamental trends.