Currency News Today – Naira Holds Steady Against Dollar, Other Currencies (May 4, 2026)
Exchange Rates Today Nigeria – The Nigerian foreign exchange market opened on Monday, May 4, 2026, with the naira showing relative stability against major global currencies.
Although slight fluctuations persist, the gap between the official market and the parallel market remains moderate. This trend reflects improved liquidity in the Nigerian Foreign Exchange Market.
Meanwhile, traders continue to monitor demand pressure, especially for the US dollar.
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Exchange Rates Today May 4 2026 Nigeria – CURRENCY TABLE
| Currency | Official Market Rate (₦) | Parallel / Black Market Rate (₦) | Mid-Market / Indicative Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | ₦1,390 – ₦1,405 | ₦1,420 – ₦1,440 | ₦1,400 |
| Euro (EUR) | ₦1,520 – ₦1,550 | ₦1,650 – ₦1,690 | ₦1,630 |
| British Pound (GBP) | ₦1,800 – ₦1,840 | ₦1,950 – ₦2,000 | ₦1,920 |
| Chinese Yuan (CNY) | ₦190 – ₦195 | ₦200 – ₦205 | ₦193 |
| Japanese Yen (JPY) | ₦9.9 – ₦10.3 | ₦10.6 – ₦11.0 | ₦10.2 |
| Canadian Dollar (CAD) | ₦1,020 – ₦1,050 | ₦1,080 – ₦1,120 | ₦1,040 |
| Swiss Franc (CHF) | ₦1,520 – ₦1,560 | ₦1,620 – ₦1,660 | ₦1,540 |
| Saudi Riyal (SAR) | ₦370 – ₦375 | ₦380 – ₦390 | ₦372 |
| UAE Dirham (AED) | ₦372 – ₦378 | ₦385 – ₦395 | ₦375 |
Market Analysis
First, the official exchange rate remains supported by improved FX inflows and tighter regulation by monetary authorities.
However, the parallel market still reflects higher demand for foreign currency, especially for imports, travel, and tuition payments.
In addition, global currency movements continue to influence the naira. For instance, the strength of the US dollar in international markets affects local pricing.
What to Expect This Week
- The naira may trade within a narrow range if FX supply remains stable.
- Demand pressure could push black market rates slightly higher.
- Investors will watch for Central Bank policy signals.
Important Note
Exchange rates are not fixed. Therefore, they may change during the day depending on market conditions, location, and transaction volume.
Stay with Sojworldnews for daily exchange rate updates, business news, and economic insights.
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