Exchange rates today Nigeria – The Nigerian naira traded relatively stable against major foreign currencies on Friday, May 8, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.
Recent gains recorded by the naira were supported by improved foreign exchange liquidity, stronger market turnover, and sustained interventions by the Central Bank of Nigeria (CBN).
Financial analysts also linked the improvement to increased investor confidence, higher oil revenue inflows, and stronger participation from exporters and commercial banks.
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Nigeria Exchange Rates Today – Friday, May 8, 2026
| Currency | Official Market Rate (₦) | Parallel / Black Market Rate (₦) | Mid-Market / Indicative Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | ₦1,357 – ₦1,361 | ₦1,380 – ₦1,395 | ₦1,360 |
| Euro (EUR) | ₦1,585 – ₦1,600 | ₦1,630 – ₦1,660 | ₦1,595 |
| British Pound (GBP) | ₦1,835 – ₦1,850 | ₦1,880 – ₦1,920 | ₦1,843 |
| Chinese Yuan (CNY) | ₦188 – ₦192 | ₦194 – ₦198 | ₦190 |
| Japanese Yen (JPY) | ₦9.9 – ₦10.2 | ₦10.4 – ₦10.8 | ₦10.1 |
| Canadian Dollar (CAD) | ₦995 – ₦1,015 | ₦1,040 – ₦1,070 | ₦1,000 |
| Swiss Franc (CHF) | ₦1,500 – ₦1,520 | ₦1,550 – ₦1,590 | ₦1,510 |
| Saudi Riyal (SAR) | ₦362 – ₦367 | ₦372 – ₦380 | ₦365 |
| UAE Dirham (AED) | ₦368 – ₦373 | ₦378 – ₦385 | ₦370 |
Market Insight
According to market reports, the naira appreciated slightly during the week as foreign exchange turnover at the official market increased significantly.
Increased participation from exporters, oil companies, and foreign investors also helped improve liquidity in the forex market.
However, financial experts warned that exchange rate stability will continue to depend on sustained dollar inflows, crude oil prices, and future monetary policies introduced by the Central Bank of Nigeria.
Important Notice
Exchange rates may vary depending on location, transaction volume, and Bureau de Change operators. Readers are advised to confirm rates before carrying out foreign exchange transactions.
Stay with Sojworldnews for daily exchange rate updates, business news, and economic analysis.
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