The US dollar is trading at different rates in Nigeria’s official and parallel foreign exchange markets on Wednesday, October 14, 2026, with the parallel-market rate remaining higher than the official rate.
At the Nigerian Foreign Exchange Market (NFEM), the latest available rate stood at approximately ₦1,332.47 per dollar, based on figures reported on Tuesday, October 13.
In the parallel market, also known as the black market, currency dealers are quoting the dollar at ₦1,365 for buying and ₦1,375 for selling. However, rates may vary depending on location, demand and the dealer.
At the quoted parallel-market selling rate, $100 would cost approximately ₦137,500.
The naira’s exchange rate continues to be influenced by several factors, including foreign exchange supply and demand, crude oil earnings, capital flows and monetary policy decisions.
Nigerians planning to exchange dollars are advised to confirm the latest rates with their banks or licensed Bureau De Change (BDC) operators before completing transactions, as exchange rates can fluctuate throughout the day.
