The naira opened Tuesday, October 27, 2026, on the back foot. It is weaker than it was a week ago, after a sharp slide at the end of last week ended a long stretch of calm in the official market.
According to the latest Central Bank of Nigeria (CBN) data, the dollar was quoted at about ₦1,367.61 at the Nigerian Foreign Exchange Market (NFEM) after Monday’s session. In the parallel market, popularly called the black market or Aboki market, dealers are buying dollars at about ₦1,370 to ₦1,375 and selling at ₦1,385 to ₦1,390, depending on the city and the size of the deal.
If you are looking for the dollar to naira rate today, here are the numbers in one place, followed by what is driving them.
Dollar to Naira Today at a Glance
| Market | Rate per $1 | Note |
|---|---|---|
| Official NFEM / CBN | About ₦1,367.61 | Latest CBN figure, from Monday’s session |
| Black market (buying) | ₦1,370 – ₦1,375 | What dealers pay you for dollars |
| Black market (selling) | ₦1,385 – ₦1,390 | What you pay to buy dollars |
| Gap between official and street rates | About ₦17 – ₦28 | Roughly 1.5% to 2% |
Rates differ between banks, Bureau De Change (BDC) operators and cities. Treat every figure here as a guide, not a guaranteed price.
Official NFEM and CBN Rate: A Calm Month Ends With a Jolt
For most of October, the official window was quiet. Closing rates sat in a narrow band of about ₦1,329 to ₦1,337 per dollar from late September until Wednesday, October 21. The naira touched ₦1,335.50 on October 13, its weakest close since August, then recovered to ₦1,331.61 two days later.
That calm broke on Friday, October 23. The CBN’s volume-weighted NFEM rate came in at ₦1,361.84, compared with ₦1,334.72 on Wednesday. That is a loss of about ₦27 in two sessions, or roughly 2%. The closing rate on Friday was reported at about ₦1,370. Monday brought a further slip of ₦5.77 to ₦1,367.61, reported alongside lower forex turnover in the official window.
| Date | Official NFEM rate (₦/$) | What happened |
|---|---|---|
| Oct 15 | 1,331.61 | Naira gained 98 kobo |
| Oct 19 | 1,333.72 | Small weakening |
| Oct 20 | 1,333.65 | Almost flat |
| Oct 21 | 1,334.72 | Traded at ₦1,334.72 and closed at ₦1,337 |
| Oct 23 | 1,361.84 | Sharp fall, about ₦27 in two sessions |
| Oct 26 | 1,367.61 | Further loss of ₦5.77 |
Published figures differ slightly because the CBN reports a volume-weighted average and a separate closing rate, and some websites still show older numbers. Many sites were still posting a “dollar to naira” rate of around ₦1,332 at the weekend, which no longer reflects the market. Importers and anyone paying a foreign bill should compare executable quotes from their bank, including charges, rather than rely on a headline rate.
Black Market Dollar to Naira Rate Today
The street market has been moving in the same direction, though with less drama. On Monday, October 26, dealers quoted ₦1,375 for buying and ₦1,390 for selling in some centres, while other trackers reported ₦1,370 and ₦1,385. This morning, quotes in Lagos, Abuja, Kano and Port Harcourt were in the range of ₦1,370 to ₦1,375 for buying and ₦1,385 to ₦1,390 for selling. One tracker, Aboki Forex, was showing ₦1,382 early on Tuesday.
A week ago the street rate was roughly ₦1,370 to ₦1,378. So the black market has moved by far less than the official window, and the gap between the two has narrowed. At the end of September the parallel rate was about ₦1,384 against an official rate of about ₦1,329, a difference of around ₦55. Today the difference is closer to ₦17 to ₦28.
How Much Is $100, $500 and $1,000 in Naira Today?
The table below uses the official rate of ₦1,367.61 and a black market selling rate of ₦1,385.
| Dollar amount | Official NFEM (₦) | Black market (₦) |
|---|---|---|
| $1 | 1,367.61 | 1,385 |
| $50 | 68,381 | 69,250 |
| $100 | 136,761 | 138,500 |
| $200 | 273,522 | 277,000 |
| $500 | 683,805 | 692,500 |
| $1,000 | 1,367,610 | 1,385,000 |
If you are selling dollars to a street dealer instead, use the lower buying rate of about ₦1,370 to ₦1,375. On that basis, $100 brings in roughly ₦137,000 to ₦137,500.
Pound and Euro Against the Naira
The other major currencies have moved with the dollar. The CBN’s latest figures put the pound at about ₦1,825.75 and the euro at about ₦1,530.35. In the parallel market, a recent quote had the pound selling near ₦1,850 and the euro near ₦1,560.
| Currency | CBN rate (₦) | Black market sell (₦) |
|---|---|---|
| US dollar | 1,367.61 | 1,385 – 1,390 |
| British pound | 1,825.75 | About 1,850 |
| Euro | 1,530.35 | About 1,560 |
Why Did the Naira Weaken?
Reports on the slide point to a pickup in dollar demand at the end of last week, with fewer foreign-exchange deals going through the official window. Analyst Bismarck Rewane had also warned earlier that a cut in interest rates could put pressure on the naira.
What makes the move puzzling is that Nigeria’s finances abroad look healthy. The country’s gross external reserves stood at about $55.16 billion as of October 22, the highest level in well over a decade and far above the CBN’s 2026 forecast of $51.04 billion. High crude oil prices and steady inflows have supported the buildup. Still, as one report noted, bigger reserves do not translate into a stronger naira in every single session. Day-to-day pricing depends on who needs dollars that week.
Even after the latest fall, the official rate is stronger than it was at the start of the year, by roughly ₦85 since January.
What to Watch This Week
Global markets will be watching the US Federal Reserve, which meets on October 27 and 28. The decision is due at 7 p.m. Nigerian time on Wednesday, with a press conference at 7:30 p.m. Any surprise on US interest rates could move the dollar worldwide and filter into the naira.
At home, the first thing to watch is whether the official rate settles around ₦1,365 to ₦1,370 or keeps climbing. The second is whether dollar supply returns to the official window. Traders will also keep an eye on the reserves figures from the CBN for signs of whether the CBN is stepping in.
Tips for Anyone Buying or Selling Dollars Today
- Check the CBN’s published rate first, so you know the official benchmark.
- Get quotes from at least two banks or licensed BDCs before you transact. The spread between buying and selling can be ₦15 or more per dollar.
- Avoid large cash deals with unknown dealers, and insist on a receipt wherever possible.
- If you are paying school fees, a medical bill or an invoice abroad, ask your bank for the final naira cost including fees, since the rate you see online is rarely the rate you pay.
Frequently Asked Questions
What is the dollar to naira rate today?
The latest official NFEM rate is about ₦1,367.61 per dollar, while the black market is selling the dollar at about ₦1,385 to ₦1,390.
What is the black market dollar rate today?
Dealers are buying at about ₦1,370 to ₦1,375 and selling at about ₦1,385 to ₦1,390.
How much is $100 in naira today?
About ₦136,761 at the official rate and roughly ₦138,500 at the black market selling rate.
Why did the naira fall last week?
Dollar demand picked up and official-market turnover dropped. The naira lost about 2% in two sessions, even as reserves rose to $55.16 billion.
When does the CBN update its rate?
The CBN publishes NFEM data each trading day, so today’s official figure will be updated after the market closes.
Exchange rates change by the hour. Figures reflect the latest available data as of the morning of October 27, 2026, and are for information only, not financial advice.
