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Dollar To Naira Exchange Rate As Of May 15th, 2026

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1 hour ago

May 15, 2026

ireporteronline Staff

According to Ireporter Online, the Nigerian foreign exchange market recorded fresh movements on Thursday, May 14, 2026, as the dollar exchanged for ₦1,400 at the Lagos parallel market, commonly referred to as the black market, while buying rates stood at ₦1,390. Bureau De Change operators confirmed that the rates reflect ongoing pressure in the informal forex segment, where supply and demand continue to dictate pricing outside official channels.

In contrast, the Central Bank of Nigeria (CBN) maintained its official exchange band for the dollar at ₦1,372 as the highest rate and ₦1,369 as the lowest rate, reiterating that it does not recognize transactions carried out in the parallel market and advising individuals to conduct foreign exchange through licensed financial institutions. Market observers note that variations between official and parallel market rates persist, with prices often fluctuating depending on availability and demand conditions.