The Nigerian Naira exchanged at around N1,330.95 to the US Dollar at the Nigerian Foreign Exchange Market (NFEM). The official window opened with early spot transactions hovering around N1,330.95 to N1,332.00 per dollar, maintaining relative stability following recent daily fluctuations.
In the unofficial parallel market, street traders and Bureau De Change (BDC) operators across major commercial hubs, including Lagos and Abuja, quoted buying rates around N1,360 to N1,365 per dollar, while selling rates traded between N1,375 and N1,380 per dollar.
The gap between the official NFEM rate and the parallel market continues to reflect ongoing demand from retail buyers, small business importers, and individuals seeking foreign currency for international travel and tuition payments.
At current trading levels, exchanging $100 yields approximately N133,095 through official banking and NFEM channels, compared to up to N138,000 when purchased through parallel market operators. Market participants attribute current rate stability to sustained diaspora remittance inflows alongside foreign portfolio interest in domestic yield instruments.
The post Dollar to Naira exchange rate today, October 23, 2026 appeared first on Vanguard News.