Nigerians checking the dollar to naira today will find the currency opening November on firm footing. The official Nigerian Foreign Exchange Market (NFEM) rate is about ₦1,346 per dollar. On the parallel market, dealers are selling the dollar at roughly ₦1,385.
Today is Sunday, and the NFEM does not trade at weekends. The official figure below is therefore Friday’s closing position, and fresh official rates will not appear until trading resumes on Monday, November 2. The black market runs every day, so the street numbers are current.
Dollar to Naira Today at a Glance
| Market | Rate per $1 | Note |
|---|---|---|
| Official NFEM (CBN) | ₦1,346.26 | Weighted trading rate on Friday, October 30, 2026, which closed at ₦1,346.00 |
| Black market (buying) | ₦1,375 – ₦1,377 | Street quotes from Lagos, Abuja, Kano and Port Harcourt |
| Black market (selling) | ₦1,385 – ₦1,390 | Aboki Forex put the street rate at ₦1,382 late on October 31 |
| Gap, official vs parallel selling rate | About ₦39 | Roughly 2.9% |
Official NFEM and CBN Rate: A Strong Close to October
The naira ended the working week with a small gain. It traded at ₦1,346.26 per dollar on Friday, October 30, against ₦1,346.91 the day before, an improvement of about 64 kobo. It is a modest move, but it comes after a bumpy few weeks and suggests the market is settling.
The recent trend is easier to see laid out by date:
| Date (2026) | Official NFEM rate (₦/$) | What was happening |
|---|---|---|
| Early January | About 1,446 | The naira began the year near this level |
| September 3 | About 1,315 | One of the naira’s strongest runs in years, alongside rising reserves |
| October 1 | 1,329.16 | The naira held a position it had not occupied in over two years |
| October 9 | 1,332.49 | Friday close, per CBN data |
| October 23 | About 1,370 | The rate had slipped from its earlier highs |
| October 26 | About 1,365 | Recovery began |
| October 27 | 1,357 | A ₦8 gain, the biggest daily rise since August |
| October 29 | 1,346.91 | Continued appreciation |
| October 30 | 1,346.26 | Latest official weighted rate |
The pattern for the month: the naira sat comfortably around ₦1,330 in the first half of October, lost ground to about ₦1,370 by the 23rd, then clawed back roughly ₦24 in a week. Measured against the start of the year, today’s rate is nearly 7 per cent stronger.
Black Market Dollar to Naira Rate Today
On the street, the story is one of stability. Quotes have barely moved in weeks. Dealers were buying at about ₦1,375 and selling at about ₦1,390 on October 28, unchanged from the day before. Over the last two days, selling prices have drifted a little lower, to between ₦1,382 and ₦1,388 depending on location and deal size.
Other currencies trade against the naira on the parallel market as follows, going by crowd-sourced quotes from October 30:
| Currency | Buying (₦) | Selling (₦) |
|---|---|---|
| US dollar | 1,376 | 1,389 |
| Euro | 1,521 | 1,559 |
| British pound | 1,821 | 1,869 |
These figures are indicative. Street prices differ from city to city and shift through the day, so always confirm with your dealer before you trade.
Why the Gap Between the Two Rates Has Narrowed
For years the difference between the official and parallel rates made headlines. It has shrunk considerably. On September 22, the parallel rate was about ₦1,389 while the NFEM sat at ₦1,327.78, a gap of roughly ₦61. Here is how the spread has moved since:
| Date (2026) | Parallel selling rate | Official NFEM | Gap |
|---|---|---|---|
| September 22 | About ₦1,389 | ₦1,327.78 | About ₦61 |
| October 12 | ₦1,380 | ₦1,332.49 | About ₦48 |
| October 28 | ₦1,390 | ₦1,357 | About ₦33 |
| October 30–31 | About ₦1,385 | ₦1,346.26 | About ₦39 |
The gap has not closed in a straight line, but it is clearly smaller than it was a month ago. Part of that comes from the official rate weakening in late October, and part from the street rate edging down in the last two days. A spread under 3 per cent leaves little room for profit from arbitrage, which helps keep both markets honest.
What Is Supporting the Naira?
The main support is a much healthier foreign reserves position. Reserves rose from $45.57 billion on January 2 to $54.86 billion on September 24, a gain of about 20 per cent. They crossed $54 billion in early September for the first time since December 2008. The latest corrected figures put them at around $55 billion in early October.
Bigger reserves give the Central Bank of Nigeria (CBN) more room to meet legitimate dollar demand and to smooth out sudden swings. Trackers also note that the CBN’s published rate follows the NFEM closely, so the NFEM closing rate works as the working official benchmark.
Analysts also point to oil earnings, remittances from Nigerians abroad and seasonal demand. As the year ends, school fees, travel and festive imports typically push up dollar demand, so any pressure in the weeks ahead would not be unusual. Reserves have been climbing all year, but sustained strength will depend on oil receipts and steady inflows holding up.
How Much Is $1 to $10,000 in Naira Today?
The table uses the official rate of ₦1,346.26 and a parallel market selling rate of ₦1,385.
| Dollar amount | At the official rate (₦) | At the black market rate (₦) |
|---|---|---|
| $1 | 1,346 | 1,385 |
| $10 | 13,463 | 13,850 |
| $50 | 67,313 | 69,250 |
| $100 | 134,626 | 138,500 |
| $500 | 673,130 | 692,500 |
| $1,000 | 1,346,260 | 1,385,000 |
| $5,000 | 6,731,300 | 6,925,000 |
| $10,000 | 13,462,600 | 13,850,000 |
On a $1,000 transaction, the difference between the two markets is about ₦38,740.
What to Watch This Week
Monday’s NFEM session will show whether the naira can hold the ₦1,346 level it carried into the weekend. Traders will be watching the daily trading volume, the CBN’s next reserves update and any shift in street prices as month-end payments clear. If the street rate keeps easing while the official rate holds, the spread could tighten further.
Frequently Asked Questions
What is the dollar to naira rate today?
The official NFEM rate is about ₦1,346.26 per dollar, based on Friday’s trading. The black market sells at roughly ₦1,385.
What is the CBN dollar rate today?
The CBN rate follows the NFEM. The latest published figure is about ₦1,346 per dollar.
What is the black market dollar rate today?
Dealers are buying at about ₦1,375 to ₦1,377 and selling at about ₦1,385 to ₦1,390.
Why is there no new official rate today?
The NFEM is closed on Sundays. Trading resumes on Monday, November 2.
Is the naira getting stronger?
Over the year, yes. It has gained nearly 7 per cent since January. Over the past week it has also recovered from its October dip.
