The Naira opened today, Friday, October 30, 2026, holding firm against the United States Dollar in both the official foreign exchange window and the parallel market.
The stability follows sustained liquidity interventions by the Central Bank of Nigeria and healthy diaspora inflows.
At the official Nigerian Foreign Exchange Market, the spot exchange rate traded at ₦1,346.86 per dollar during early morning transactions.
Commercial banks and corporate importers observed orderly liquidity conditions.
FX demand for trade obligations, tuition fees and capital repatriation continued to be met across authorised channels.
In the parallel market, commonly referred to as the black market, street traders and Bureau De Change operators quoted buying rates of around ₦1,375 per dollar.
The operators are located in major economic centres, including Lagos, Abuja and Kano.
Selling rates in the parallel market hovered around ₦1,385 per dollar.
The price gap between the official market and the parallel window remains narrow.
Financial analysts attribute the relative stability of the local currency to Nigeria’s solid foreign reserve buffer, which remains well above $55 billion.
According to the analysts, the buffer enables the central bank to cushion short-term demand shocks and maintain stability across trading channels.
Market experts expect trading to remain steady throughout the business day, as routine demand is steadily absorbed by market liquidity.
