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Dollar to Naira exchange rate update – October 20, 2026
VIA VANGUARD:
The naira held steady around the ₦1,330 level in the official market on Tuesday, while the parallel market kept quoting higher rates for buyers of physical dollars.
The official NFEM reference rate is about ₦1,332 per dollar. Bureau De Change (BDC) operators’ rates vary by location and transaction size.
| Market | Rate (₦ per $) |
|---|---|
| Official NFEM | ~1,332 |
| Parallel (buying) | ~1,365 |
| Parallel (selling) | ~1,380 |
What is $100 in naira? About ₦133,200 at the official rate and ₦138,000 at the parallel selling rate.
The gap affects importers, travellers, students paying overseas tuition and businesses with dollar obligations.
Parallel-market figures are indicative and may differ among dealers. Nigerians planning transactions should confirm rates with their banks or licensed BDC operators.
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