Currency News Today – Nigeria Exchange Rates: The Nigerian foreign exchange market remained relatively stable on Tuesday, May 12, 2026, as the naira traded within a narrow range against the US dollar across official and parallel market windows.
Recent market data showed that the naira gained support from improved dollar liquidity, stronger foreign inflows, and continued interventions by the Central Bank of Nigeria (CBN). Analysts also linked current market stability to rising global oil prices and cautious investor sentiment.
Meanwhile, traders expect the market to remain relatively stable in the short term unless major global economic events trigger fresh volatility in the forex market.
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Currency News Today: Nigeria Exchange Rates – Tuesday, May 12, 2026
| Currency | Official Market Rate (₦) | Parallel / Black Market Rate (₦) | Mid-Market / Indicative Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | ₦1,360 – ₦1,370 | ₦1,380 – ₦1,400 | ₦1,366 |
| Euro (EUR) | ₦1,590 – ₦1,605 | ₦1,640 – ₦1,670 | ₦1,600 |
| British Pound (GBP) | ₦1,840 – ₦1,860 | ₦1,900 – ₦1,940 | ₦1,853 |
| Chinese Yuan (CNY) | ₦188 – ₦192 | ₦194 – ₦199 | ₦190 |
| Japanese Yen (JPY) | ₦9.8 – ₦10.2 | ₦10.4 – ₦10.8 | ₦10.1 |
| Canadian Dollar (CAD) | ₦1,010 – ₦1,030 | ₦1,050 – ₦1,085 | ₦1,020 |
| Swiss Franc (CHF) | ₦1,500 – ₦1,525 | ₦1,570 – ₦1,610 | ₦1,515 |
| Saudi Riyal (SAR) | ₦362 – ₦368 | ₦375 – ₦382 | ₦366 |
| UAE Dirham (AED) | ₦368 – ₦373 | ₦380 – ₦388 | ₦371 |
Market Insight
The official exchange rate reflects transactions conducted within the Nigerian Foreign Exchange Market (NFEM), which operates under the supervision of the Central Bank of Nigeria.
In contrast, the parallel market rate reflects prices offered by Bureau de Change operators and independent forex traders across major cities including Lagos, Abuja, Kano, and Port Harcourt.
The mid-market rate serves as a global benchmark used by international financial platforms. However, actual transaction rates may vary depending on location, demand, transaction volume, and market conditions.
Global Currency Trend
Globally, the US dollar remained firm on Tuesday due to geopolitical tensions and expectations that the US Federal Reserve may maintain higher interest rates for a longer period. Rising crude oil prices also continued to influence global currency markets.
Stay with Sojworldnews for verified exchange rate updates, business news, and economic analysis.
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