Currency news today Nigeria — The Nigerian foreign exchange market opened on Monday, May 11, 2026, with mixed movements across major global currencies. The naira traded within a relatively stable range across both official and parallel markets.
Demand for foreign currency remained steady, especially for the US dollar, Euro, and British pound. Below is a detailed snapshot of today’s exchange rates.
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Exchange Rates Today in Nigeria – May 11, 2026
| Currency | Official Market Rate (₦) | Parallel / Black Market Rate (₦) | Mid-Market / Indicative Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | ₦1,385 – ₦1,395 | ₦1,400 – ₦1,420 | ₦1,390 |
| Euro (EUR) | ₦1,510 – ₦1,530 | ₦1,660 – ₦1,690 | ₦1,600 |
| British Pound (GBP) | ₦1,790 – ₦1,820 | ₦1,930 – ₦1,970 | ₦1,900 |
| Chinese Yuan (CNY) | ₦188 – ₦193 | ₦196 – ₦202 | ₦191 |
| Japanese Yen (JPY) | ₦9.9 – ₦10.3 | ₦10.6 – ₦11.0 | ₦10.2 |
| Canadian Dollar (CAD) | ₦1,010 – ₦1,040 | ₦1,070 – ₦1,100 | ₦1,025 |
| Swiss Franc (CHF) | ₦1,520 – ₦1,550 | ₦1,600 – ₦1,640 | ₦1,535 |
| Saudi Riyal (SAR) | ₦365 – ₦372 | ₦380 – ₦388 | ₦370 |
| UAE Dirham (AED) | ₦370 – ₦378 | ₦385 – ₦395 | ₦375 |
Market Overview
The official market remains relatively stable, supported by Central Bank interventions and foreign exchange supply management.
However, the parallel market continues to trade at higher rates due to increased demand and limited liquidity. The gap between official and black market rates remains noticeable.
The mid-market rate reflects global forex benchmarks and is widely used for international currency comparisons.
Summary
Overall, the naira shows mild stability against major global currencies, although pressure persists in the unofficial market.
Traders and businesses are advised to monitor daily movements closely, as exchange rates may change during the trading day.
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