Dollar to Naira exchange rate update – October 29, 2026

VIA VANGUARD:

Trading in Nigeria’s foreign exchange market opened Thursday with the naira stable across official and unofficial channels. Spot activity saw moderate intra-day movements as banks and corporates settled import bills and remittances, while CBN liquidity support kept the rate in a tight range.

The parallel market premium remains narrow compared to the official rate.

Analysts credit the stability to external reserves above $55 billion, supported by oil export earnings and diaspora remittances. Market participants expect conditions to hold as commercial order flows are absorbed through the day.