Dollar to Naira Today, October 29, 2026: Naira Holds Near ₦1,357 at NFEM as Black Market Sells at ₦1,390

If you are checking the dollar to naira today, here is the short version. The naira is trading around ₦1,357 per dollar at the official Nigerian Foreign Exchange Market (NFEM), while street dealers are selling dollars at about ₦1,390. The official rate came off a rough end to last week and has clawed back some ground.

Dollar to naira today at a glance

Market Rate per $1 Note Official NFEM (closing rate) ₦1,357.00 Tuesday, October 27, latest confirmed close Official NFEM (weighted average) ₦1,352.87 Tuesday, October 27, CBN data Black market (buying) ₦1,375 Lagos, Abuja, Kano and Port Harcourt dealers Black market (selling) ₦1,390 Same dealers, Wednesday and Thursday quotes Gap between official close and black-market sell rate About ₦33 Roughly 2.4%

The naira gained N8 against the dollar on Tuesday, October 27, closing at N1,357/$ at the NFEM, its biggest daily rise since August. CBN data put the traded rate at N1,352.87 per dollar, compared with N1,367.61 the day before. Some trackers have since reported an NFEM figure near ₦1,347 for Wednesday’s session. At the time of writing, Tuesday’s close remains the last firmly confirmed official print.

Official NFEM and CBN rate: a calm month, then a jolt

For most of October, the naira barely moved. From late September until October 21, closing rates sat in a narrow band of roughly ₦1,329 to ₦1,337 per dollar. It slipped to ₦1,335.50 on October 13, its weakest close since August, then recovered, gaining 98 kobo to close at ₦1,331.61 on October 15.

That quiet broke last Friday. The naira lost N27.12 in two trading sessions, falling to N1,361.84 on October 23 from N1,334.72 on October 21. Reports at the time pointed to a pickup in dollar demand. The slide continued on Monday, October 26, when the naira weakened by ₦5.77 to ₦1,367.61. Tuesday’s rally then pulled it back.

Date (2026) Official NFEM rate (₦/$) What happened Oct 1 About 1,329 Month opens with the naira near its strongest in over two years Oct 7 1,332.75 (close) Small slip on heavy turnover Oct 13 1,335.50 (close) Weakest close since August Oct 15 1,331.61 Gain of 98 kobo Oct 21 1,334.72 (weighted), 1,337 (close) Last day of the quiet band Oct 23 1,361.84 (weighted) Sharp slide on stronger dollar demand Oct 26 1,367.61 (weighted), 1,365 (close) Weakest point of the month Oct 27 1,352.87 (weighted), 1,357 (close) Naira gains N8, biggest daily rise since August

Put in a longer frame, the naira is still far stronger than where it began the year. It opened 2026 at an average of about ₦1,446 per dollar on the NFEM. A close of ₦1,357 means the currency is roughly 6 per cent firmer than in January.

Black market dollar to naira rate today

The parallel market has been steadier than the official window. Dealers quoted about ₦1,375 for buying and ₦1,390 for selling on Wednesday, October 28, unchanged from the day before. Rates vary by location and dealer. One report had BDC operators quoting ₦1,382 on Wednesday, down from ₦1,385 on Tuesday. If you plan to trade on the street, expect to see numbers anywhere from ₦1,380 to ₦1,390.

Measured against Tuesday’s official close, the difference with the ₦1,390 selling rate is ₦33 per dollar, or about 2.43 per cent. That is a narrow gap by historical standards. Earlier in the month, the spread was about ₦55, or roughly 4 per cent. It widened a little on the way up last week and has narrowed again since the naira’s recovery.

How much is $1 to $5,000 in naira today?

The figures below use Tuesday’s official close of ₦1,357 and the black-market buying and selling rates of ₦1,375 and ₦1,390.

Dollar amount Official NFEM (₦1,357) Black market buying (₦1,375) Black market selling (₦1,390) $1 ₦1,357 ₦1,375 ₦1,390 $50 ₦67,850 ₦68,750 ₦69,500 $100 ₦135,700 ₦137,500 ₦139,000 $500 ₦678,500 ₦687,500 ₦695,000 $1,000 ₦1,357,000 ₦1,375,000 ₦1,390,000 $5,000 ₦6,785,000 ₦6,875,000 ₦6,950,000

Banks add their own margin, so card payments and online dollar purchases usually settle a little above the official rate.

Pound and euro against the naira

The dollar is not the only currency Nigerians are watching, especially with school fees and travel bookings in sterling and euros.

Currency Official (CBN, latest) Parallel market (approx.) British pound (£1) ₦1,803.24 About ₦1,836 Euro (€1) ₦1,508.59 About ₦1,590

Parallel-market quotes for the pound and euro swing more from dealer to dealer than the dollar does, so treat those two figures as a guide.

Why the naira slipped despite strong reserves

The late-week weakness caught some observers off guard because Nigeria’s reserves are healthy. Gross external reserves stood at $55.16 billion as of October 22, according to CBN figures. That is up from about $45.6 billion at the start of the year, and it gives the central bank room to supply dollars when demand spikes.

Reserves do not remove short-term pressure, though. A burst of importer demand, end-of-month dollar needs and speculative buying can all push the rate around in a few sessions, even when the broader picture is firm. The recovery on Tuesday suggests the pressure eased once supply returned to the window. Reports on Wednesday credited continued liquidity support from the CBN and inflows from autonomous sources for keeping the currency steady.

Inflation is also helping. Headline inflation fell to 14.63 per cent in September from 15.39 per cent in August, according to the National Bureau of Statistics. The CBN’s Monetary Policy Committee has kept its benchmark rate at 26.5 per cent, which keeps naira assets attractive to investors who bring in dollars. Analysts will watch whether slower price growth eventually opens the door to rate cuts, since that would change the appeal of holding naira.

Frequently asked questions

What is the dollar to naira rate today?
The official NFEM closing rate was ₦1,357 per dollar on Tuesday, October 27, the latest confirmed close. The black market is buying at about ₦1,375 and selling at about ₦1,390.

Why did the naira fall last week?
It lost about ₦27 between October 21 and 23 and slipped further on Monday, October 26, on reports of stronger dollar demand. It regained ₦8 on Tuesday.

What is the black market dollar rate today?
Dealers in major cities quote about ₦1,375 to buy and ₦1,390 to sell, with some variation by location.

How much is $100 in naira today?
About ₦135,700 at the official close and between ₦137,500 and ₦139,000 on the parallel market.

The post Dollar to Naira Today, October 29, 2026: Naira Holds Near ₦1,357 at NFEM as Black Market Sells at ₦1,390 appeared first on WITHIN NIGERIA.