The naira traded at ₦1,332.49 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday, October 13, 2026, as the gap between the official and parallel market rates persisted.
Figures reported showed that the official exchange rate remained within the ₦1,329 to ₦1,333 range in recent trading sessions.
In the parallel market, also known as the black market, Bureau De Change operators quoted the dollar at between ₦1,365 and ₦1,370 for buying, while selling rates ranged from ₦1,375 to ₦1,390.
The figures indicate a difference of about ₦43 to ₦58 between the official rate and the parallel market’s dollar selling rates.
The report attributed the relative stability in the official market to monetary policy adjustments and foreign exchange liquidity management by the Central Bank of Nigeria (CBN).
It also noted that rising net foreign reserves had helped strengthen Nigeria’s external buffers and support investor confidence.
However, demand for foreign exchange for international travel, school fees and imports continues to put pressure on the parallel market.
Individuals and businesses have been advised to confirm prevailing rates with their banks or authorised foreign exchange dealers, as rates may vary depending on location, transaction volume and the platform used.
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