…means the naira lost N0.87 against the dollar on a day-to-day basis. Meanwhile, at the parallel market, the naira remained unchanged at N1,375 per dollar on Tuesday, the same rate recorded the previous day. The mixed movements across the foreign exchange markets came as the country’s external reserves rose further to $…

…close at N1,338/$1, compared with N1,340/$1 previously.The currency traded flat at the parallel market at N1,360/$1 during the session.FX turnover drops sharplyData published by the Central Bank of Nigeria (CBN) showed that interbank foreign exchange turnover fell by 77.7% to $36.242 million from $162.736 million recor…

…per dollar in the official market on Thursday, October 8, 2026, while gaining N5 in the parallel market.Foreign exchange turnover surged by 350% to $326.12 million, according to Central Bank of Nigeria data.Nigeria’s foreign reserves rose to about $54.98 billion, while the naira also weakened against the pound and euro…

…trading session, while the dollar is quoted at ₦1,370 to buy and ₦1,375 to sell in the parallel market on Thursday, October 8, 2026. Official dollar to naira rate Data from the Central Bank of Nigeria (CBN) shows that the NFEM rate was ₦1,331.7679/$ on October 7, 2026. The CBN explains that the NFEM rate is derived usi…

…to trade at N1,498.03 per euro, compared with N1,492.16 recorded the day before.In the parallel market, the naira held steady against the dollar, with the exchange rate remaining flat at N1,370 per dollar.Forex turnover rises sharplyTrading volumes in the official market surged during the session.NAFEM interbank forex…

…exchange supplyThe CBN said FX reforms have narrowed the gap between official and parallel market rates, while reserves rose to $55.60 billionPAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!Legit.ng journalist Victor Enengedi has over a decade's experience cove…

…which have helped curb sharp exchange rate fluctuations. The contained premium in the parallel market ranging roughly between ₦43 and ₦63 above the official rate indicates that increased transparency and liquidity in formal channels are continuing to draw routine transactions away from the street market. For businesses…

Naira has gained against the dollar in official and parallel markets as interbank FX turnover surged 226% to $80.58 millionStreet-market dollar rates fell to N1,375, narrowing the gap with the official rate to about N45Rising external reserves and oil prices support the naira, but traders will watch whether gains can c…

…market was deeply fragmented with multiple windows operating alongside a massive parallel market, which made it incredibly difficult for businesses to know which rate would apply to them or when foreign exchange would even be available. “The gap between the official and parallel rates averaged over 60% in 2022 and exce…

…September 29, 2026, while the greenback changed hands for as much as ₦1,385 in the parallel market. In the parallel market, currency dealers were buying the dollar at around ₦1,375 and selling it at approximately ₦1,385, according to prevailing Bureau De Change quotations. The figures show a difference of about ₦63.56…

…Adegbesan The Naira yesterday appreciated to N1,405 per dollar from N1,410 in the parallel market on Wednesday. Likewise, the naira appreciated to N1,322.5 per dollar in the Nigerian Foreign Exchange Market, NFEM. Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to…

…by N5 against the dollar to close at N1,338, though it remained flat at N1,375 in the parallel market.Naira Eyes Best Annual Performance Since 2018According to analyst projections cited by Bloomberg, the naira is on course to record its strongest annual performance in almost a decade. The currency has already gained ro…

…It also represented a sharp increase from the $119.59 million recorded on Friday.At the parallel market, the naira also gained ground, strengthening to N1,410 per dollar from N1,420 last week.The improvement narrowed the gap between the official and parallel market rates to 4.48 per cent on Monday, from 4.64 per cent o…

…17, 2026, appreciated by at least N8.07 after trading activities on Monday. At the parallel market, the buying rate decreased by N5 while the selling rate decreased by N7 when compared to the previous trading rate on Friday, August 14, 2026. According to Aboki FX, the Naira-to-dollar exchange rate at the black market o…

…Foreign Exchange Market (NFEM) on Friday. Naira remains stable at N1,420/$ in the parallel market Photo: BloombergImagesThat compares with a closing rate of N1,365.69 per dollar the week before. On a day-to-day basis, the currency edged up by N0.04 from N1,357.65 recorded on Thursday.PAY ATTENTION: From breaking news t…

…every week, losing N6.13 compared with the previous week's official exchange rate.In the parallel market, popularly known as the black market, the naira depreciated by N7 during July to close at N1,415/$1, widening the gap between the official and unofficial markets to 3.45%.Trading activity also improved significantly…

…July 23, 2026, appreciated by at least N5.67 after trading activities on Friday. At the parallel market, the buying rate remained the same while the selling rate appreciated by N5 when compared to the previous trading rate on Thursday, July 23, 2026. According to Aboki FX , the Naira-to-dollar exchange rate at the blac…

…of $1.5bn on TuesdayThe naira strengthened against the dollar in both the official and parallel markets as liquidity improved sharply across FX segmentsCBN Governor Olayemi Cardoso credited ongoing reforms for pushing Nigeria's net foreign reserves from about $3 billion to over $40 billionFind it fast with our new sear…

By Elizabeth Adegbesan The Central Bank of Nigeria (CBN) has revealed a significant expansion in the country’s financial system, with credit to the private sector rising by 2.8 percent month-on-month to N83.3 trillion in June 2026, up from the N81 trillion recorded in May 2026. However, the apex bank disclosed that cre…

…exchange liquidity and the level of demand for the US dollar. Meanwhile, activity in the parallel market, commonly referred to as the black market, showed the dollar exchanging at around ₦1,410. However, the exact rate differed slightly depending on the location and individual currency dealers. The gap between the offi…

…a loss of N55 or 3.86 percent. Consequently, the spread between the official and parallel market exchange rates has widened to about N46, from near-zero levels recorded four months ago. The naira, however, remained largely stable in the official market. Data from the Nigerian Foreign Exchange Market (NFEM) showed the l…

…market participants monitored liquidity conditions and foreign exchange demand. In the parallel market, also known as the black market, the US dollar exchanged at about ₦1,410/$, although rates varied slightly across dealers and locations. The difference between the official NFEM rate and the parallel market rate remai…

By Elizabeth Adegbesan The Naira yesterday appreciated to N1,400 per dollar in the parallel market from N1,405 per dollar on Tuesday. But the naira was stable at N1,379 per dollar in the Nigerian Foreign Exchange Market (NFEM), as data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate rema…

…Market (NFEM) on Wednesday, July 8, 2026, according to official market data. At the parallel market, commonly referred to as the black market, the dollar exchanged at approximately ₦1,400 per dollar for buying and ₦1,410 per dollar for selling, based on rates obtained from Bureau de Change operators and market observer…

By Elizabeth Adegbesan The Naira yesterday depreciated to N1,400 per dollar in the parallel market from N1,395 per dollar last weekend. Likewise, the naira depreciated to N1,371 per dollar in the Nigerian Foreign Exchange Market, NFEM. Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate…