Rifnote
Loading your desk
Dollar to Naira exchange rate update – October 16, 2026
VIA VANGUARD:
The Naira remained relatively stable against the Dollar on October 16, 2026, across official and parallel markets. Steady FX liquidity and strong external reserves are backing Central Bank of Nigeria interventions.
| Market | Rate (₦/$) |
|---|---|
| Official (NFEM) | 1,331.09 |
| Parallel – Buying | 1,355 – 1,365 |
| Parallel – Selling | 1,375 – 1,390 |
Bureau De Change operators in Lagos and Abuja quoted the parallel rates, keeping the gap between official and informal channels narrow.
Analysts credit the stability to subdued speculative activity and steady FX inflows.
POPULAR
- More than 70% of terrorists behind Nigeria’s security crisis are foreigners — Akpabio
- How Nigerians can check if their phones are NCC-approved
- Eight-month-pregnant Osimhen girlfriend involved in multiple-vehicle crash
- Calabar Teaching Hospital plans mass burial for over 50 unclaimed corpses
- Now you can call anyone with WhatsApp, even if they don’t have WhatsApp