The naira experienced a mild decline on Tuesday across multiple segments of Nigeria’s foreign exchange market.
In the official NFEM/CBN window, the exchange rate remained in the mid-₦1,400 range, with trades hovering between approximately ₦1,460 and ₦1,466 per dollar. The Central Bank of Nigeria’s reference figures stayed within the high ₦1,400s, which are used by commercial banks and authorised dealers.
Meanwhile, in the parallel or black market, the dollar was quoted between ₦1,490 and ₦1,505, depending on location and trader, according to AbokiFX and other rate monitors.
Market trackers also confirmed that on October 14, official trading maintained positions in the mid-₦1,400 zone, with TradingEconomics recording an intraday level of about ₦1,461.36 to $1.
Despite the official market showing relative stability, the significant gap with the parallel market persisted, reflecting continued demand pressure outside regulated channels.