Dollar to Naira exchange rate today, February 5, 2026

The Nigerian Naira continued its positive run against the United States Dollar in the early hours of Thursday, February 5, 2026, sustaining the momentum recorded since the beginning of the week.

The local currency has shown marked strength in the official foreign exchange window, supported by improved liquidity conditions and sustained regulatory interventions.

Performance in the Official Market

Trading at the Nigerian Foreign Exchange Market (NFEM) opened today with the Naira exchanging at about ₦1,368.56 to the dollar. As trading progressed into mid-morning, the rate adjusted slightly, closing in around ₦1,371.40 per dollar.

This represents a significant gain when compared to levels near ₦1,388 recorded less than 24 hours earlier.

Market observers link the continued appreciation to the Central Bank of Nigeria’s (CBN) sustained market-matching operations, alongside rising external reserves that have helped shield the currency from global pressures.

Analysts also point to the Electronic Foreign Exchange Matching System (EFEMS), noting that its transparency has played a key role in tightening spreads and restoring confidence at the official window.

Developments in the Parallel Market

The parallel, or informal, market has mirrored the downward movement seen in the official segment, reflecting growing confidence in the Naira.

In major trading hubs such as Lagos (both Ikeja and Island), Abuja, and Kano, the dollar is currently changing hands within the ₦1,450 to ₦1,465 range.

Although the informal market still trades above the NFEM rate, the gap has narrowed considerably and is now among the smallest recorded in recent months. Bureau De Change operators say demand from retail users remains stable, with minimal speculative pressure.

Dollar supply from diaspora remittances and proceeds from small-scale exports is reportedly helping to meet demand for personal and business transactions.

Exchange Rate Snapshot for February 5

NFEM (Official) Opening Rate: ₦1,368.56

NFEM (Official) Mid-session Rate: ₦1,371.40

Parallel Market Rate: ₦1,450 – ₦1,465