The dollar-to-naira exchange rate opened the new trading week on Monday, October 19, 2026, with the official Nigerian Foreign Exchange Market (NFEM) rate standing at approximately ₦1,333.54 per dollar, according to available exchange-rate data.
Meanwhile, the parallel market continued to record higher rates, with Bureau De Change (BDC) operators quoting different prices depending on their location, dealer and prevailing market conditions.
As of Monday, October 19, the official NFEM rate was approximately ₦1,333.54 per dollar, while the parallel market buying and selling rates stood at around ₦1,375 and ₦1,390 per dollar, respectively. These parallel market figures are indicative and may vary based on the dealer, location and size of the transaction.
Naira outlook
The naira closed the previous trading week relatively stable in the official foreign exchange market, with the dollar trading at approximately ₦1,332.26 at the close of business on Friday, October 16. In the parallel market, the dollar sold for about ₦1,370, according to market reports.
Based on the latest figures, the gap between the official NFEM rate of ₦1,333.54 and the parallel market selling rate of ₦1,390 stands at approximately ₦56.46 per dollar, highlighting the continued disparity between the two market segments.
Exchange rates may fluctuate throughout the day in response to changes in foreign currency demand and supply. Individuals and businesses are therefore advised to confirm prevailing rates with their banks or licensed foreign exchange dealers before carrying out transactions.
