The Nigerian naira is trading at approximately ₦1,346 per US dollar in the official foreign exchange market on Thursday, October 29, 2026, while the parallel market continues to quote higher rates.
The latest figures show that the gap between the official and parallel markets remains a key factor for Nigerians and businesses that depend on foreign currency for transactions.
Official Dollar to Naira Exchange Rate
The official foreign exchange market recorded the dollar at approximately ₦1,346.05 per dollar, according to the latest available figures.
Black Market Dollar to Naira Rate
In the parallel market, currency dealers are quoting the dollar at the following indicative rates:
-Buying rate: ₦1,375 per dollar
-Selling rate:** ₦1,390 per dollar
These rates may vary depending on the location, dealer and amount being exchanged.
What This Means for Nigerians
The exchange rate remains important for importers, travellers, students paying overseas tuition fees and businesses purchasing goods from international markets.
Fluctuations in the naira’s value against the dollar can also affect the cost of imported products and other dollar-denominated expenses.
Market participants continue to monitor foreign exchange supply and demand, alongside developments in the official market, for indications of the naira’s direction.
Nigerians are advised to confirm prevailing rates with their banks or licensed Bureau de Change operators before carrying out transactions, as exchange rates can change during the day.
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