The dollar to naira exchange rate today, October 6, 2026, showed mixed movement across Nigeria’s foreign exchange markets, with the naira weakening slightly at the official market while gaining ground against the US dollar at the parallel market.
The naira was quoted at ₦1,332.90 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday, compared with ₦1,332/$ recorded at the previous weekend’s close.
At the parallel market, the naira strengthened to about ₦1,357 per dollar, improving from approximately ₦1,362/$ recorded at the weekend.
Key Highlights
- Official NFEM rate: ₦1,332.90/$
- Parallel market rate: About ₦1,357/$
- Naira gain at parallel market: About ₦5 per dollar
- Official-to-parallel market difference: About ₦24.10/$
- The spread narrowed from approximately ₦30 recorded over the weekend.
Dollar To Naira Exchange Rate Today
The latest dollar to naira exchange rate today puts the difference between the official and parallel market rates at approximately ₦24.10 per dollar.
This represents a reduction from the roughly ₦30 gap recorded between both markets over the weekend.
The movement indicates that the naira continues to trade within a relatively narrow range despite ongoing attention on foreign exchange liquidity, dollar supply and demand.
For Nigerians looking to buy or sell dollars on Tuesday, October 6, the indicative rates were:
| Market | Dollar to Naira Rate |
|---|---|
| Official NFEM | ₦1,332.90/$ |
| Parallel Market | ₦1,357/$ |
| Difference | ₦24.10/$ |
The Central Bank of Nigeria’s NFEM rate is based on the volume-weighted average of transactions in the official foreign exchange market.
The parallel market rate, however, can vary from one location to another depending on the dealer, available dollar supply and the size of the transaction.
Naira Gains At Parallel Market
The latest figures show that the naira gained about ₦5 against the dollar at the parallel market compared with the approximately ₦1,362/$ recorded at the weekend.
At the official market, however, the naira weakened slightly from ₦1,332/$ to ₦1,332.90/$.
The relatively narrow gap between the two markets contrasts with periods when Nigeria’s foreign exchange market recorded significantly wider price differences.
Read also:
- Naira Holds Steady As Dollar Trades At ₦1,375 On Parallel Market
- Naira To Dollar Exchange Rate Today: Naira Gains To N1,370/$
- Naira Gains In Parallel Market But Loses Ground At Official Market
Why The Dollar To Naira Rate Matters
Movements in the dollar to naira exchange rate today remain important for consumers, businesses and investors because changes in the value of the naira can affect the cost of imported goods, international payments, travel expenses and other dollar-denominated transactions.
Businesses that depend on imported raw materials and products also monitor movements in the exchange rate because changes in dollar costs can affect operating expenses and prices.
Market participants are expected to continue monitoring dollar liquidity, foreign exchange supply and trading activity for indications of the naira’s direction in the coming days.
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