The US dollar was quoted at approximately ₦1,332.49 at the Nigerian Foreign Exchange Market (NFEM), while the parallel market traded at around ₦1,370 for buying and ₦1,380 for selling, based on the latest available figures as of Monday, October 12, 2026.
Data published by the Central Bank of Nigeria (CBN) showed that the NFEM closed at ₦1,332.49 per dollar on Friday, October 9, the latest completed official trading session reflected in the data reviewed.
In the parallel market, the dollar maintained a higher value, with reported rates of approximately ₦1,370 for buying and ₦1,380 for selling as of Saturday, October 10. However, these rates may differ across locations and currency dealers, depending on market conditions and transaction methods.
The dollar-to-naira exchange rate remains a key concern for Nigerians making international payments, including tuition fees, travel expenses, imported goods and other dollar-denominated transactions. Movements in both the official and parallel markets can affect the cost of these payments.
As trading continues on Monday, the official NFEM rate may change. Individuals and businesses are advised to check the latest quotations with their banks or authorised foreign exchange dealers before carrying out transactions.
