NAIRA TO DOLLAR EXCHANGE RATE: OFFICIAL MARKET TRADES AROUND ₦1,332 AS BLACK-MARKET RATES REACH ₦1,390

By NaijaParrot October 15, 2026 

 LAGOS, NIGERIA — The Nigerian naira traded within a relatively narrow range against the United States dollar on Thursday, October 15, 2026, as individuals, businesses and foreign exchange market participants continued to monitor currency movements across the official and parallel markets. Available market reports indicate that the dollar exchanged at approximately ₦1,332 in Nigeria’s official foreign exchange market, while parallel-market quotations ranged between ₦1,375 and ₦1,390 per dollar, depending on the dealer and location.

In the parallel market, also known as the black market, some currency dealers quoted buying rates of around ₦1,375 per dollar and selling rates of approximately ₦1,390. Other market reports placed buying rates between ₦1,355 and ₦1,365, with selling rates ranging from ₦1,375 to ₦1,390. 

These differences reflect variations in dealer quotations, transaction sizes and local market conditions. (Investors King. 

At a buying rate of ₦1,375 and a selling rate of ₦1,390, the estimated conversions are as follows: 

 * $100: ₦137,500 when selling dollars and ₦139,000 when buying dollars. 

* $200: ₦275,000 when selling dollars and ₦278,000 when buying dollars. 

* $500: ₦687,500 when selling dollars and ₦695,000 when buying dollars. 

* $1,000: ₦1,375,000 when selling dollars and ₦1,390,000 when buying dollars. 

 These calculations are based on indicative parallel-market quotations and exclude additional transaction charges. The official foreign exchange market operates under the regulatory framework overseen by the Central Bank of Nigeria (CBN). 

The official rate may differ from the price available to individuals purchasing foreign currency through commercial banks and authorised dealers. The naira’s performance remains important to importers, manufacturers, international travellers, students paying overseas tuition fees and Nigerians making payments abroad. 

Movements in the exchange rate can affect the cost of imported goods, international transactions and business operations. Market participants continue to monitor foreign exchange supply, demand for dollars, external reserves and broader economic developments for indications of the naira’s direction.  

Readers should note that exchange rates fluctuate and may change throughout the day. Anyone planning a foreign currency transaction is advised to confirm the prevailing rate directly with an authorised dealer before completing the transaction.  

NaijaParrot — Hear It First! Hear It True!