The dollar to naira rate today, Monday, October 19, 2026, is about ₦1,333.54 at the official Nigerian Foreign Exchange Market (NFEM), while Bureau De Change (BDC) operators and street dealers are buying at roughly ₦1,375 and selling at about ₦1,390. That leaves the parallel market about ₦56 above the official window, a premium of roughly 4.2 per cent.
The naira opens the new trading week the way it closed the last one: barely moving. The Central Bank of Nigeria (CBN) put the closing official rate at ₦1,332.26 per dollar on Friday, October 16, and early Monday data shows only a small slide from there.
Dollar to Naira Today at a Glance
| Market | Buying rate (₦) | Selling rate (₦) | Note |
|---|---|---|---|
| Official NFEM | about 1,333.54 | about 1,333.54 | Monday opening level |
| CBN reference rate | 1,332.26 | 1,332.26 | Friday, October 16 close |
| Parallel (black) market | about 1,375 | about 1,390 | Lagos, Abuja, Kano and Port Harcourt dealers |
| Gap between official and parallel | about ₦56 | Roughly 4.2 per cent |
A quick word on the black market numbers. Dealers do not all quote the same price, and the trackers that follow them do not always agree. Some aggregators printed the dollar anywhere between ₦1,358 and ₦1,370 in recent days, while others held at ₦1,390. If you plan to trade, treat ₦1,370 to ₦1,390 as the working range and confirm the exact figure with your dealer before you move any cash.
Official Market: What the NFEM and CBN Figures Show
At the official window, the naira has been pinned inside a very narrow band for most of October. Last week’s closing numbers tell the story.
| Date | Official NFEM rate (₦/$) |
|---|---|
| Monday, October 12 | 1,332.99 |
| Tuesday, October 13 | 1,332.49 |
| Wednesday, October 14 | 1,332.59 |
| Thursday, October 15 | 1,331.61 |
| Friday, October 16 | 1,332.26 |
| Monday, October 19 (opening) | about 1,333.54 |
On Thursday, October 15, the naira gained 98 kobo against the dollar to close at ₦1,331.61, according to CBN data. Trading that day was busy. Official turnover reached about $577 million, and the dollar moved between a low of ₦1,327 and a high of ₦1,333.50 before settling.
Market watchers say foreign portfolio investors, exporters and non-bank corporates have kept dollar supply healthy. When supply holds up, the rate has little reason to jump around.
Black Market Dollar to Naira Rate Today
On the street, dealers quoted the dollar at about ₦1,375 when buying and ₦1,390 when selling heading into Monday. That is a ₦15 spread, which is what a customer pays for the convenience of walking up to a BDC counter and leaving with cash.
Last week the parallel rate wandered between ₦1,365 and ₦1,390 depending on the day and the tracker. Traders say the premium has stayed in the low single digits in percentage terms for weeks. That is a big change from the days when the street rate ran 20 or 30 per cent above the official one.
How Much Is $100, $500, $1,000 and $5,000 in Naira Today?
Here is what common dollar amounts are worth at the official opening rate of ₦1,333.54 and at the black market selling rate of ₦1,390.
| Amount in dollars | At the official rate (₦1,333.54) | At the black market rate (₦1,390) |
|---|---|---|
| $1 | ₦1,333.54 | ₦1,390 |
| $100 | ₦133,354 | ₦139,000 |
| $500 | ₦666,770 | ₦695,000 |
| $1,000 | ₦1,333,540 | ₦1,390,000 |
| $5,000 | ₦6,667,700 | ₦6,950,000 |
On a $1,000 purchase, the difference between the two markets is about ₦56,460. For people paying school fees abroad, settling import invoices or sending money to relatives, that gap is worth a few phone calls.
Pound and Euro: Official Rates This Week
The naira also gained against the pound and the euro at the official market on Thursday, October 15.
| Currency | Official rate (₦) | Source date |
|---|---|---|
| British pound (£1) | about 1,765 | Mid-October CBN data |
| Euro (€1) | about 1,490 | Thursday, October 15 close |
Why the Naira Has Been So Steady
Three things are doing most of the work.
1. Reserves are at a level not seen in years: The Central Bank said gross external reserves stood at about $55.25 billion on September 18, enough to cover roughly 11.3 months of imports. CBN figures show the balance at $55.08 billion on October 9. One report on October 14 claimed a jump to $58.81 billion on October 12, but that number appeared in a piece later corrected after the CBN revised its data, so it is safer to quote the $55 billion range until the bank publishes a clean series. For context, the CBN’s own forecast at the start of the year was $51.04 billion for 2026. Reserves have already beaten it.
2. Inflation is cooling: Headline inflation eased to 15.39 per cent in August from 15.43 per cent in July, the third monthly decline in a row, according to the National Bureau of Statistics. Food inflation fell from 20.31 per cent to 19.57 per cent. Traders are now waiting for the September figure.
3. The CBN has changed its interest rate stance: At its 307th meeting on September 21 and 22, the Monetary Policy Committee (MPC) cut the Monetary Policy Rate by 350 basis points, from 26.5 per cent to 23 per cent. It also reset the standing facilities corridor to +50/-300 basis points, which puts the Standing Lending Facility at 23.5 per cent and the Standing Deposit Facility at 20 per cent. Governor Olayemi Cardoso said the move was meant to make the policy rate work properly through the financial system again, since the interbank rate had been sitting around 22 per cent, well under the old benchmark.
A lower policy rate can make naira assets less attractive to foreign investors chasing yield, so the market has watched closely for any outflow. So far there has been none that moved the rate.
How the Naira Has Moved This Year
| Period | Official rate (₦/$) | Black market (₦/$) |
|---|---|---|
| Late January 2026 | about 1,420 | about 1,488 |
| End of July 2026 | about 1,368 | n/a |
| Early September 2026 | about 1,315 | n/a |
| October 1, 2026 | about 1,329 | about 1,384 |
| October 19, 2026 | about 1,333.54 | about 1,390 |
The official rate is about ₦86 lower than it was in January, meaning the naira buys more dollars today than it did at the start of the year. The parallel rate has dropped by close to ₦100 over the same period, and the gap between the two markets has narrowed from about ₦68 in January to ₦56 now.
Notice, though, that the naira has drifted slightly weaker from its early September peak near ₦1,315. It has not reversed course. It has simply stopped appreciating and settled into a holding pattern.
Tips for Buying or Selling Dollars Today
- Compare at least two or three dealers before you transact, since the ₦15 spread can widen at smaller counters.
- If you have access to an authorised dealer bank, the official window is cheaper, though availability and documentation requirements vary.
- Avoid large cash dealings with strangers. Use licensed BDC operators and keep records.
- Rates change during the day. A figure that was accurate at 8 a.m. may not hold at 3 p.m.
Dollar to Naira Today: Frequently Asked Questions
What is the dollar to naira rate today, October 19, 2026?
The official NFEM rate is about ₦1,333.54 per dollar. On the black market, the dollar is bought at about ₦1,375 and sold at about ₦1,390.
What is the CBN rate today?
The CBN’s last published closing rate was ₦1,332.26 per dollar, recorded on Friday, October 16.
How much is $100 in naira today?
About ₦133,354 at the official rate and about ₦139,000 at the black market selling rate.
Why is the black market rate higher than the official rate?
Parallel market dealers charge a premium for speed, cash access and no paperwork. They also price in demand that the official window does not always meet immediately. The premium is now around 4 per cent, far smaller than in past years.
Is the naira getting stronger or weaker?
Compared with January, it is stronger. Compared with its early September high near ₦1,315, it has slipped slightly. This week it is flat.
When does the CBN next meet on interest rates?
The MPC’s next meeting is scheduled for November 23 and 24, 2026.
Exchange rates change throughout the day and differ between dealers. The figures above reflect data available on the morning of Monday, October 19, 2026, and are for information only. They are not financial advice. Confirm live rates with your bank or a licensed BDC before you transact.
