The naira traded at ₦1,346.86 per dollar at the official foreign exchange market on Friday, October 30, 2026, while the dollar exchanged for as much as ₦1,385 in the parallel market.
Key Highlights
- Naira opened at ₦1,346.86/$ at the official NFEM window on Friday.
- Black market dollar buying rate stood at about ₦1,375, selling at ₦1,385.
- Gap between official and parallel market rates is about ₦38.14.
- Buying $100 in the parallel market costs about ₦138,500.
- Analysts link naira stability to FX liquidity, CBN interventions and diaspora remittances.
The latest exchange rate figures show a difference in pricing between the Nigerian Foreign Exchange Market (NFEM) and the parallel market, where bureau de change operators and street currency traders determine rates based on demand and supply.
Official Market Rate
At the official NFEM window, the naira opened at ₦1,346.86 per dollar during early morning transactions.
The official market continued to record orderly liquidity conditions, with banks and corporate importers accessing foreign exchange for international trade payments, tuition fees and capital repatriation.
Black Market Rate
Meanwhile, in the parallel market, commonly known as the black market, the dollar was bought at approximately ₦1,375 and sold at ₦1,385.
The rates were reported across major commercial centres, including Lagos, Abuja and Kano.
This means that individuals buying $100 from parallel market operators would need approximately ₦138,500, while those purchasing $500 would require about ₦692,500.
For $1,000, the estimated amount stands at ₦1,385,000.
The difference between the official and parallel market rates remains relatively narrow, with the black-market selling rate about ₦38.14 higher than the official NFEM rate.
Read also:
- Naira Trades At ₦1,346/$ 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
- Naira to Dollar Exchange Rate Today, Tuesday, October 27, 2026
What Is Driving Naira Stability
Market analysts have attributed the relative stability of the naira to foreign exchange liquidity, Central Bank of Nigeria interventions and diaspora remittances.
Nigeria’s foreign reserves, reportedly above $55 billion, were also identified as a factor supporting the country’s ability to manage short-term foreign exchange demand.
Market experts expect trading activities to remain relatively steady throughout Friday as routine demand is absorbed by available liquidity.
However, exchange rates may vary depending on location, transaction size and individual Bureau De Change operators.
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