The Nigerian naira recorded a slight appreciation against the United States dollar, exchanging at N1,346.2565 at the official foreign exchange window managed by the Central Bank of Nigeria on Friday, October 30, 2026.
Market figures published on the apex bank's platform indicated that the domestic currency traded at a Nigerian Foreign Exchange Market rate of N1,346.2565 per dollar, eventually closing the session at N1,346.0000 against the greenback.
How did the official rate perform compared to previous sessions?
Comparing trading outcomes, the naira advanced by approximately N0.64 following Friday's trading activities, improving from its previous NFEM rate of N1,346.9108 recorded on October 29, 2026. This consistent movement highlights ongoing adjustments within the regulated financial segment overseen by monetary authorities.
What was the trend in the parallel market?
Concurrently, the parallel market—often referred to as the black market—witnessed a reduction in both acquisition and disposal rates for the local currency. Currency traders exchanged the naira at a buying rate of N1,382 and a selling rate of N1,388 per dollar on Friday, October 30, 2026. This represented a marginal improvement, with the buying rate easing by N3 and the selling rate dropping by N4 compared to the figures recorded on Thursday, October 29, 2026.