Naira depreciates against dollar at official, parallel markets

The Nigerian naira weakened against the United States dollar on Wednesday, October 7, 2026, trading at N1,331.7679 at the Central Bank of Nigeria’s official foreign exchange window.

According to Tribune, data published by the Central Bank of Nigeria showed that the currency traded at a Nigerian Foreign Exchange Market rate of N1,331.7679 per dollar before closing at N1,332.7500.

The naira had traded at N1,330.8745 per dollar on Tuesday, October 6, indicating a depreciation of about N0.89 at the NFEM rate following Wednesday’s trading activities.

The currency also weakened against the dollar at the parallel market.

According to Aboki FX, the naira exchanged at N1,370 per dollar for buying and N1,375 for selling on Wednesday.

Compared with Tuesday’s rates, the parallel-market buying price increased by N10, while the selling rate rose by N5.

The figures indicate continued pressure on the naira across both official and unofficial foreign exchange markets.