The Nigerian naira traded at an official exchange rate of ₦1,379.22 per United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, June 29, 2026, according to the latest available market data.
At the official rate, $100 exchanged for approximately ₦137,922, while $1,000 was valued at about ₦1.379 million.
In the parallel market, commonly known as the black market, the dollar traded at about ₦1,390 for buying and between ₦1,400 and ₦1,405 for selling, depending on location, transaction size and dealer quotations across major cities, including Lagos and Abuja. At the average parallel market selling rate of ₦1,400 per dollar, $100 exchanged for roughly ₦140,000, while $1,000 was worth about ₦1.4 million.
The gap between the official and parallel market rates remained relatively narrow at around ₦21 per dollar, reflecting the naira’s sustained stability in recent months amid improved foreign exchange liquidity and ongoing policy reforms aimed at strengthening the local currency.
The Central Bank of Nigeria calculates the NFEM exchange rate using a volume-weighted average of transactions conducted in the official foreign exchange market, making it the country’s benchmark exchange rate.
Exchange rates may vary slightly across banks, bureaux de change and parallel market locations due to fluctuations in demand and supply, transaction volumes and regional market conditions.
