The Nigerian naira traded relatively steadily against the US dollar on Friday, October 9, 2026, with the official exchange rate hovering around ₦1,329 per dollar, while the parallel market continued to quote higher rates.
Data published by Vanguard showed that the naira traded at approximately ₦1,329.34 per dollar at the Nigerian Foreign Exchange Market (NFEM), the official market benchmark.
In the parallel market, commonly known as the black market, the dollar exchanged at around ₦1,385 per dollar, reflecting the difference between official foreign exchange trading and informal market transactions.
Dollar to Naira Exchange Rate Today
The reported rates for Friday, October 9, 2026, are as follows:
- Official market (NFEM): Approximately ₦1,329.34 to $1.
- Parallel market (black market): Approximately ₦1,385 to $1.
These figures are indicative and may vary depending on the financial institution, Bureau de Change operator, location and transaction size.
How Much Is the Dollar in Naira Today?
Using the reported rates, the estimated naira equivalents are:
| US dollar amount | Official market | Parallel market |
|---|---|---|
| $1 | ₦1,329 | ₦1,385 |
| $10 | ₦13,293 | ₦13,850 |
| $50 | ₦66,467 | ₦69,250 |
| $100 | ₦132,934 | ₦138,500 |
| $500 | ₦664,670 | ₦692,500 |
| $1,000 | ₦1,329,340 | ₦1,385,000 |
The amounts are estimates based on the reported rates before fees, commissions or dealer margins.
What Is Influencing the Naira?
The naira’s performance continues to depend on dollar supply, demand for foreign exchange, monetary policy and foreign currency inflows.
Businesses, importers and individuals making international payments remain sensitive to exchange-rate changes because they affect the cost of imported goods, travel, tuition fees and other dollar-denominated expenses.
Although the official rate has remained within a relatively narrow range in recent trading sessions, the parallel market continues to reflect differences in demand and access to foreign currency.
Market participants will continue to monitor official foreign exchange trading and dollar availability for signs of further changes in the naira’s performance.
