Market News

Exchange rates may vary slightly across banks, bureaux de change and different parallel market locations due to fluctuations in demand and supply conditions.

The official rate Monday, June 29, 2026, indicates that $100 would exchange for about N1,379.22 at the Nigerian Foreign Exchange Market (NFEM) window.

The Central Bank of Nigeria derives the NFEM 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 different parallel market locations due to fluctuations in demand and supply conditions.

In the parallel market, commonly referred to as the black market, the dollar traded around N1,390 for buying and between N1,400 and N1,405 for selling, depending on location, transaction volume, and dealer quotations.