The Nigerian naira traded within a relatively stable range against the United States dollar on Friday, May 8, 2026, across both the official and parallel foreign exchange markets, as traders continued to monitor liquidity levels and interventions by the Central Bank of Nigeria.
Data from the Central Bank’s Nigerian Foreign Exchange Market portal showed that the official exchange rate hovered around ₦1,366 to the dollar in recent trading sessions, with rates fluctuating between approximately ₦1,362 and ₦1,370 based on market supply and demand.
At the parallel market, commonly referred to as the black market, currency traders in Lagos and Abuja exchanged the dollar at around ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling, depending on location and transaction volume.
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Financial analysts said the relatively narrow gap between the official and parallel market rates suggests improved forex liquidity and reflects ongoing efforts by the Central Bank to stabilise the naira.
However, traders noted that demand for foreign exchange from importers, travellers and businesses remains high, continuing to put pressure on the market despite recent signs of improvement in the value of the naira.
