The Nigerian Naira continues to exhibit stable movements across both the official and parallel foreign exchange markets as trading gets underway on Tuesday, October 13, 2026.
At the official Nigerian Foreign Exchange Market (NFEM), the Naira maintains a steady position, trading at approximately 1,332.49 to the US dollar. ShopAfrican Art
Market data and tracker insights from the Central Bank of Nigeria reflect sustained forex turnover, keeping the currency tightly bound within the 1,329 to 1,333 range.
Meanwhile, in the parallel (black) market, the US dollar commands a slight premium. Bureau De Change operators and street dealers are quoting the dollar at an average of 1,365 to 1,370 for buying, and between 1,375 and 1,390 for selling.
This places the parallel market margin roughly 45 to 55 Naira higher than the official window, propelled by ongoing demand for international trade, tuition payments, and travel.
Financial analysts attribute the relative equilibrium in the official market to recent monetary policy adjustments, liquidity management by the Central Bank of Nigeria, and robust external reserves.