Dollar to Naira Exchange Rate Today – Black Market and Official CBN Rates for May 18, 2026

The Nigerian naira recorded mild fluctuations against the United States dollar on Monday, May 18, 2026, as foreign exchange demand continued to shape activities across both the official and parallel markets.

Latest data from the Nigerian Foreign Exchange Market (NFEM) showed the naira trading around ₦1,371 per dollar at the official market window. Intraday trading figures indicated that the exchange rate moved between approximately ₦1,369 and ₦1,374 during the day’s session.

Meanwhile, in the parallel market popularly referred to as the black market, the dollar traded at an average buying rate of about ₦1,395 and a selling rate close to ₦1,405 in key commercial centres such as Lagos and Abuja.

Financial analysts noted that the difference between the official exchange rate and black market rate has remained relatively tighter in recent weeks compared to earlier periods. This development has been linked to ongoing efforts by the Central Bank of Nigeria to improve dollar liquidity and stabilise the forex market.

Experts also explained that increased dollar supply to authorised dealers and continued market interventions have helped reduce volatility in the foreign exchange sector. Despite rising demand from importers, manufacturers, students, and travellers seeking foreign currency, the naira has largely maintained stability within the ₦1,360 to ₦1,380 range at the official window.

Economic observers, however, warned that several factors could still affect the direction of the naira in the coming days. These include global crude oil prices, Nigeria’s foreign reserve position, inflation trends, and investor confidence in the economy.

The foreign exchange market remains one of the most closely watched sectors in Nigeria, as fluctuations in the dollar-to-naira exchange rate continue to impact import costs, business operations, school fees abroad, and the prices of goods and services nationwide.