Market News
Nigerian currency bounces back with appreciation
Dollar to Naira exchange rate today, May 13, 2026: Nigerian currency bounces back with appreciation
The naira appreciated against the dollar on Wednesday at the official foreign exchange market after two days of depreciation.
Data from the Central Bank of Nigeria showed that the naira strengthened for the first time since last week to N1,370.56 per dollar, up from N1,375.6219 traded on Tuesday.
This means that the naira firmed up by N5.1 on a day-to-day basis.
Meanwhile, at the black market, the naira remained unchanged at N1,395 per dollar, the same rate exchanged on Tuesday.
The development comes as Nigeria’s foreign reserves rose to $48.48 billion on May 12, 2026, according to data from the apex bank.
Recall that in the past two days, the naira recorded depreciation against the dollar at the official foreign exchange market.
