The naira is trading at ₦1,384.31 per dollar in the parallel market on Saturday, October 31, 2026, as the gap between the official and black market exchange rates widens.
Key Highlights
- Black market selling rate: ₦1,384.31/$; buying rate: ₦1,378.55/$.
- Official exchange rate stands at ₦1,346/$.
- Gap between official and parallel market selling rates is ₦38.31.
- $100 is worth about ₦137,855 (buying) and ₦138,431 (selling) in the parallel market.
- NFEM generally does not publish fresh official rates over the weekend.
According to the latest exchange rate data from AbokiFX, bureau de change operators are buying the dollar at ₦1,378.55 and selling at ₦1,384.31.
The figures indicate a difference of ₦5.76 between the parallel market buying and selling rates.
Meanwhile, the official exchange rate stands at ₦1,346 per dollar, leaving a difference of ₦38.31 between the official rate and the parallel market selling price.
What The Rates Mean For Nigerians
The latest figures mean that Nigerians selling dollars to bureau de change operators may receive approximately ₦1,378.55 for each dollar, while those purchasing the currency may pay about ₦1,384.31.
For individuals and businesses involved in foreign transactions, the prevailing exchange rates remain important in determining the cost of international payments, travel expenses, imports and other dollar-denominated transactions.
At the current parallel market rates, $100 is worth approximately ₦137,855 at the buying rate and ₦138,431 at the selling rate.
Similarly, $100 exchanged at the official rate of ₦1,346 would amount to ₦134,600.
The actual amount received or paid may differ depending on the location, availability of foreign currency and individual bureau de change operators.
Read also:
- Dollar To Naira Exchange Rate Today, October 30, 2026: Naira Trades At ₦1,385/$ In Black Market
- Naira Trades At ₦1,346/$ As Gap Between Official, Black Market Rates Widens
- Naira to Dollar Exchange Rate Today, October 28, 2026: Naira Trades at ₦1,390 On Black Market
Official Market Closed For The Weekend
The naira’s latest performance comes amid continued differences between the official foreign exchange market and the parallel market.
However, Saturday’s figures may not reflect fresh official market trading because the Nigerian Foreign Exchange Market (NFEM) generally does not publish new trading rates over the weekend.
The parallel market rate may also fluctuate depending on dollar demand, supply and prevailing conditions among currency dealers.
Nigerians are therefore advised to confirm prevailing rates with authorised dealers before carrying out foreign exchange transactions.
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