The naira traded with little movement against the dollar on Tuesday, October 20, 2026, staying close to the ₦1,330 mark in the official market. Buyers who needed physical United States dollars in the parallel market continued to face higher quotations.
Data available for the Nigerian Foreign Exchange Market put the official reference rate at about ₦1,332 per dollar.
Bureau De Change operators in the parallel market quoted different rates, depending on their location and the size of the transaction.
Indicative rates as of Tuesday morning showed the official NFEM rate at roughly ₦1,332 per dollar, drawn from the latest reference data.
In the parallel market, the buying rate was put at around ₦1,365 per dollar.
The selling rate in the same market was around ₦1,380 per dollar.
The parallel-market figures are only indicative and may vary from one dealer to another.
At these rates, $100 is worth about ₦133,200 at the official reference rate and about ₦138,000 at the parallel-market selling rate.
The difference reflects the premium that people often pay when they source dollars through unofficial channels instead of the official foreign exchange window.
The gap between the two markets has implications for importers, international travellers, students paying tuition abroad and businesses with obligations denominated in dollars.
Nigerians planning foreign exchange transactions are advised to confirm the applicable rate with their banks or licensed BDC operators, since prices can change during the day.
