Fresh Dollar To Naira Rate Emerges Today, May 7, 2026

The Nigerian naira continued to trade under pressure against the United States dollar at the parallel market, commonly referred to as the black market, amid sustained demand for foreign exchange across the country.

According to market sources in Lagos, the dollar exchanged at an average selling rate of ₦1400 and a buying rate of ₦1385 on Wednesday, May 6, 2026, among Bureau De Change operators. The latest figures reflect ongoing fluctuations within the informal foreign exchange market as traders and buyers continue to monitor movements in the value of the naira.

Reports indicate that the Central Bank of Nigeria maintains its stance against the recognition of the parallel market, stressing that individuals seeking foreign exchange transactions should make use of official banking channels and authorized financial institutions.

Meanwhile, official market data showed that the dollar traded within the range of ₦1350 to ₦1365 at the CBN window. Financial analysts noted that exchange rates may differ across locations and dealers due to changing market conditions and varying demand levels in the forex market.