The Nigerian naira traded within a relatively narrow range against the United States dollar across official and parallel foreign exchange markets on Wednesday, October 28, 2026, with market reports placing the official rate around ₦1,352 per dollar and parallel-market quotations between ₦1,370 and ₦1,385.
Figures published by exchange-rate trackers put the official Nigerian Foreign Exchange Market (NFEM) reference rate at approximately ₦1,352.37 per dollar, based on the Central Bank of Nigeria’s October 27 figures. <Cite refs={“turn363835search2″,”turn363835search6″”turn363835search2″,”turn363835search6”}/>
In the parallel market, commonly known as the black market, indicative quotations reported for October 28 stood at about ₦1,370 per dollar for buying and ₦1,385 for selling. Actual rates may differ depending on the dealer, location and transaction size. <Cite refs={“turn363835search2″,”turn363835search0″”turn363835search2″,”turn363835search0”}/>
The difference between the official and parallel-market rates remained relatively narrow, although the two markets continued to quote different prices for the dollar. The figures are indicative and should not be treated as guaranteed transaction rates.
The official exchange rate is published through the NFEM, while parallel-market quotations reflect prices reported by currency dealers outside the official market. Rates can fluctuate during the day in response to foreign-exchange supply and demand.
Nigerians planning dollar transactions are advised to confirm the prevailing rate with their bank or a licensed Bureau De Change operator before exchanging currency.
