The Nigerian naira traded at an official exchange rate of ₦1,379.22 to the United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, June 29, 2026, according to the latest market data.
At the official rate, $100 would exchange for about ₦137,922 at the NFEM window, while $1,000 would be valued at approximately ₦1.379 million.
In the parallel market, commonly known as the black market, the dollar traded at around ₦1,390 for buying and between ₦1,400 and ₦1,405 for selling, depending on location, transaction volume, and dealer quotations across major cities, including Lagos and Abuja.
At the average parallel market selling rate of ₦1,400 per dollar, $100 would fetch about ₦140,000, while $1,000 would exchange for roughly ₦1.4 million.
The gap between the official and parallel market rates remained relatively narrow at about ₦21 per dollar, reflecting the naira’s sustained stability in recent months, supported by improved foreign exchange liquidity and policy reforms aimed at strengthening the local currency.
The Central Bank of Nigeria calculates 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.