Fresh Dollar To Naira Exchange Rate For Wednesday, May 20, 2026

Market information obtained from Bureau De Change operators in Lagos indicated that the local currency remained relatively stable in the informal foreign exchange segment, commonly referred to as the black market.

This means individuals seeking to purchase one U.S. dollar from parallel market traders would pay ₦1,400, while those selling dollars would receive ₦1,385.

Meanwhile, data from the official foreign exchange market showed that the Central Bank of Nigeria recorded the dollar trading between ₦1,370 and ₦1,374.

The apex bank has consistently maintained that it does not recognize transactions carried out in the parallel market and has advised individuals and businesses with legitimate foreign exchange needs to obtain forex through authorized commercial banks and other approved financial institutions.

Foreign exchange rates in both official and unofficial markets are subject to fluctuations depending on demand, supply, and prevailing market conditions, meaning actual buying and selling prices may differ slightly across locations and dealers.