The dollar-to-naira exchange rate remained relatively stable around the ₦1,330 level in the official market on Tuesday, October 20, 2026, while the parallel market continued to quote higher rates for buyers seeking physical US dollars
The latest available foreign exchange data put the official Nigerian Foreign Exchange Market (NFEM) reference rate at approximately ₦1,332 per dollar In the parallel market, Bureau De Change (BDC) operators quoted varying rates depending on location and transaction size.
As of Tuesday morning, the indicative rates are:
Official NFEM rate: approximately ₦1,332 per dollar, based on the latest available reference data
Parallel-market buying rate: around ₦1,365 per dollar
Parallel-market selling rate: around ₦1,380 per dollar
The parallel-market figures are indicative quotations and may differ among dealers
How much is $100 to naira today?
At the indicative rates, $100 is worth approximately ₦133,200 at the official reference rate and ₦138,000 at the parallel-market selling rate
The difference reflects the premium often paid by individuals who obtain dollars through unofficial market channels rather than the official foreign exchange window
The gap between the two markets affects importers, international travellers, students paying overseas tuition and businesses with dollar-denominated obligations
Nigerians planning foreign exchange transactions should confirm the applicable rate with their banks or licensed Bureau De Change operators, as prices can change during the day