Currency news today – The Nigerian naira recorded fresh gains against the United States dollar on Thursday, May 7, 2026, as improved liquidity continued to support the foreign exchange market.
Reports from the Nigerian Foreign Exchange Market (NFEM) showed that the naira strengthened further at both the official and parallel market windows. Analysts linked the improvement to better dollar supply and easing pressure in the FX market.
Meanwhile, traders said the black market rate remained relatively stable despite global uncertainty surrounding oil prices and the weakening U.S. dollar.
SEE ALSO: “No More Fuel Subsidy Forever?” — Taiwo Oyedele Drops Major Economic Bombshell in Paris
Aisha Yesufu Breaks Silence on ADC Exit, Reveals Next Big Step
Currency news today: Nigeria Exchange Rates – Thursday, May 7, 2026
| Currency | Official Market Rate (₦) | Parallel / Black Market Rate (₦) | Mid-Market / Indicative Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | ₦1,357 – ₦1,366 | ₦1,380 – ₦1,390 | ₦1,362 |
| Euro (EUR) | ₦1,585 – ₦1,600 | ₦1,620 – ₦1,650 | ₦1,598 |
| British Pound (GBP) | ₦1,845 – ₦1,860 | ₦1,880 – ₦1,920 | ₦1,851 |
| Chinese Yuan (CNY) | ₦188 – ₦191 | ₦193 – ₦198 | ₦190 |
| Japanese Yen (JPY) | ₦9.7 – ₦10.1 | ₦10.3 – ₦10.8 | ₦10.0 |
| Canadian Dollar (CAD) | ₦995 – ₦1,015 | ₦1,040 – ₦1,070 | ₦1,010 |
| Swiss Franc (CHF) | ₦1,500 – ₦1,520 | ₦1,560 – ₦1,590 | ₦1,515 |
| Saudi Riyal (SAR) | ₦360 – ₦365 | ₦370 – ₦380 | ₦364 |
| UAE Dirham (AED) | ₦365 – ₦370 | ₦375 – ₦385 | ₦368 |
Market Insight
The official exchange rate reflects transactions within the Central Bank-regulated foreign exchange window. In contrast, the parallel market rate represents prices offered by Bureau de Change operators and informal traders.
In addition, the mid-market rate serves as a global benchmark used by international financial platforms. Therefore, actual rates may differ depending on location, transaction volume, and market demand.
Experts expect the naira to remain relatively stable if forex inflows continue to improve in the coming weeks.
Global Currency Trend
Globally, the U.S. dollar weakened slightly on Thursday after renewed optimism over easing geopolitical tensions in the Middle East. Consequently, investors shifted toward other currencies, including the euro and yen.
Stay with Sojworldnews for daily exchange rate updates, business news, and economic analysis.
Leave a Reply