The United States dollar is trading at ₦1,446.9 in the official Nigerian Foreign Exchange Market window today.

On the parallel, or black market, the dollar is being quoted at approximately ₦1,476 per dollar.

The gap between the official and parallel-market rates consequently stands at roughly ₦29.1 per dollar. This difference underlines the continued divergence between formal and informal forex channels.

Market watchers attribute this spread to persistent retail demand in the parallel market and tighter liquidity or limited access to dollars for many individuals and small businesses. Meanwhile, official-window rates remain relatively stable, reflecting ongoing interventions and inflows via formal channels.

For businesses, travelers, and remittance recipients, the choice of window—official NFEM versus the parallel market—continues to matter significantly for how far their Naira goes when converting from dollars.