The Dollar to Naira exchange rate today showed further pressure on Nigeria’s currency at the official foreign exchange market.
Data released by the Central Bank of Nigeria indicated that the Naira weakened against the United States dollar on Monday.
Dollar to Naira Exchange Rate Today Drops at Official Market
According to the latest figures, the Dollar to Naira exchange rate today closed at N1,373.70 per dollar.
This represents a decline from the N1,371.04 exchange rate recorded at the close of trading on Friday.
The development means the Naira lost N2.66 against the dollar at the official market to begin the week.
Black Market Rate Remains Stable
While the official market recorded losses, the Dollar to Naira exchange rate today remained stable at the parallel market.
Currency traders in the black market exchanged the dollar at N1,400, the same rate recorded at the end of the previous trading session.
The gap between the official and parallel market rates continues to attract attention from investors and businesses.
Foreign Reserves Rise Despite Naira Weakness
The Dollar to Naira exchange rate today comes amid a rise in Nigeria’s foreign reserves.
Recent data showed that the country’s external reserves increased to $48.58 billion as of May 15, 2026.
Analysts say foreign reserve growth is often viewed as a positive signal for currency stability and external liquidity.
Naira Continues Recent Downtrend
The Dollar to Naira exchange rate today reflects the continued depreciation trend seen in recent trading sessions.
Last week, the Naira also recorded losses against the dollar across different foreign exchange markets.
Market observers are closely monitoring policy measures by financial authorities aimed at stabilising the currency.
Market Attention on FX Policies
The Dollar to Naira exchange rate today remains a key indicator for businesses, importers and investors in Nigeria.
Movements in the exchange rate often affect inflation, import costs and the general cost of living.
Economic stakeholders are expected to continue watching developments in Nigeria’s foreign exchange market this week.
