On Tuesday, 13 October 2026, the Nigerian naira remained largely stable in both the official foreign‑exchange market and the parallel (black) market, with the official rate hovering around ₦1,332.5 per US dollar and the black‑market rate trading between ₦1,365 and ₦1,390.
**What is the official rate?**
The official Nigerian Foreign Exchange Market (NFEM) listed the naira at roughly 1,332.49 to the dollar, keeping it within a tight 1,329‑1,333 band. This figure comes from market data and tracker insights released by the [Central Bank of Nigeria](https://www.cbn.gov.ng).
**How does the parallel market compare?**
Bureau de change operators and street dealers quoted the dollar at an average buying price of ₦1,365‑₦1,370 and a selling price of ₦1,375‑₦1,390. The parallel market therefore carries a premium of about 45‑55 naira over the official window.
**Why is the gap persisting?**
Analysts say the modest spread reflects ongoing demand for foreign currency to fund international trade, tuition fees and travel. The official market’s equilibrium is attributed to recent monetary‑policy tweaks, liquidity management actions by the Central Bank of Nigeria, and the country’s solid external reserves.
**What does this mean for the economy?**
A stable official rate helps contain inflationary pressures, while the parallel market premium signals that some import‑related pressures remain. Continued CBN interventions are expected to keep the naira within the current narrow corridor as long as external demand stays steady.