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Dollar to Naira exchange rate update – October 23, 2026
VIA VANGUARD:
The Naira exchanged at about N1,330.95 to the dollar at the NFEM today, with early spot deals ranging from N1,330.95 to N1,332.00. Rates stayed largely stable after recent daily swings.
In the parallel market, Lagos and Abuja BDC operators quoted these rates:
| Market | Buying (₦/$) | Selling (₦/$) |
|---|---|---|
| Official (NFEM) | 1,330.95 | 1,332.00 |
| Parallel | 1,360–1,365 | 1,375–1,380 |
Buying $100 costs about N133,095 officially, against up to N138,000 on the parallel market. Demand from small importers, travellers and tuition payers keeps the gap alive.
Market participants credit the stability to steady diaspora remittances and foreign interest in domestic yield instruments.
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