The naira slid further against the U.S. dollar at the official foreign-exchange window on Monday, May 11, 2026, extending the currency’s soft start to the week despite a small increase in Nigeria’s external reserves.
Naira exchange rates: May 11, 2026
- At the official market, the Central Bank of Nigeria’s figures show the naira weakened to N1,373.16 per dollar on Monday.
- This compares with N1,361.39 per dollar traded at the close of business last Friday.
- Overall, that represents a fall of N11.77 versus the level recorded at the end of the previous trading week.
- In the parallel (black) market, the naira held steady at N1,395 per dollar, the same rate reported on Friday.
- Separately, the central bank data indicated that Nigeria’s external reserves edged up to $48.36 billion as of May 8, 2026, rising from $48.33 billion the day before.
- The move continues the pattern seen on Friday, when the naira had fallen against the dollar at the official foreign-exchange market to finish the week on a weaker note.
