The Nigerian Naira maintained a stable posture across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as trading commenced for the week.
At the official NFEM window, the United States Dollar traded at approximately ₦1,327.08, holding steady following a stretch of robust liquidity inflows and increased turnover supported by the Central Bank of Nigeria’s ongoing policy adjustments. Market participants noted that robust foreign reserves—bolstered significantly over the preceding months—have provided a strong buffer, keeping official rates anchored within a tight band.
Meanwhile, operations in the parallel (street) market saw the greenback exchanging hands between ₦1,370 and ₦1,390 per dollar. Currency traders reported steady demand for physical cash, keeping the parallel market premium over the official window relatively narrow. Financial analysts attribute this sustained convergence to improved transparency and liquidity within official channels, which continue to discourage speculative hoarding and drive routine transactions toward formal banking structures.
The post Dollar to Naira exchange rate today, October 5, 2026 appeared first on Vanguard News.