The exchange rates for the US Dollar to the Nigerian Naira on Tuesday, May 5, 2026, are as follows:
Official Exchange Rate
According to the latest market data, the official exchange rate is approximately ₦1,371.81 per $1. The rate has seen slight fluctuations throughout the morning, starting at ₦1,370.93 at the beginning of the day.
Parallel Market (Black Market) Rate
While official figures hover around the 1,371 mark, rates in the parallel market typically trade at a premium. As of this morning, black market rates in hubs like Lagos and Abuja are generally slightly higher, often ranging between ₦1,385 and ₦1,400 depending on the volume and the specific vendor.
Daily Comparison
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Opening Rate: ₦1,370.93
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Current Rate (Official): ₦1,371.81
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Trend: Marginal increase of 0.06% since the market opened.
Note: Rates are subject to change throughout the trading day based on market demand and liquidity.
