The Nigerian naira opened trading on Friday, 30 October 2026, relatively stable against the United States dollar in both the official foreign exchange market and the parallel market.
At the official Nigerian Foreign Exchange Market (NFEM), the dollar was quoted at N1,346.86 during early morning transactions.
Commercial banks and corporate importers reportedly experienced orderly liquidity conditions, with demand for foreign exchange to meet trade obligations, pay tuition fees and repatriate capital being serviced through authorised channels.
In the parallel market, also known as the black market, currency traders and Bureau De Change operators in major commercial centres, including Lagos, Abuja and Kano, quoted the dollar at about N1,375 for buying and N1,385 for selling.
The difference between the official and parallel market rates remained relatively narrow.
Financial analysts attributed the naira’s relative stability to the country’s foreign reserve position, which the report put above $55 billion. The reserves are said to provide the Central Bank of Nigeria (CBN) with the capacity to manage short-term foreign exchange demand pressures and support stability across trading channels.
Market experts expect trading to remain relatively steady throughout the business day, as routine demand continues to be absorbed by available market liquidity.