Latest Dollar To Naira Rate Today – May 31, 2026

The development reflects ongoing fluctuations in the foreign exchange market, where rates are largely influenced by demand and supply dynamics. Traders noted that exchange rates may differ across locations and dealers, depending on prevailing market conditions and transaction volumes.

Meanwhile, data from the official foreign exchange market showed that the dollar traded within a range of ₦1,372 to ₦1,375. The figures highlight the continued disparity between rates obtainable in the official market and those offered in the parallel market.

The Central Bank of Nigeria has consistently maintained that it does not recognize the parallel market for foreign exchange transactions and has advised individuals and businesses seeking forex services to conduct their transactions through authorized financial institutions and approved channels.

Market analysts also noted that actual buying and selling rates may vary from the quoted figures, as exchange rates are subject to frequent changes based on market realities and negotiations between traders and customers.