The Nigerian naira traded at approximately ₦1,390 per dollar on the parallel market on Wednesday, October 28, 2026, while the official foreign exchange market recorded rates between ₦1,341.31 and ₦1,352.87 per dollar.
Currency dealers in major cities, including Lagos, Abuja and Kano, quoted the dollar at about ₦1,375 for buying and ₦1,390 for selling, indicating that the parallel market continued to trade above the official window.
At the official market, the reported exchange rate range reflected differences in trading prices during the day’s activities.
The gap between the two markets means individuals and businesses purchasing dollars through informal dealers may pay more than those accessing foreign exchange through official banking channels, subject to availability and applicable requirements.
Exchange rates may vary depending on the location, dealer, transaction amount and prevailing market conditions. Individuals and businesses are therefore advised to confirm current rates before carrying out foreign exchange transactions.
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