The US dollar is trading at different rates across Nigeria’s official and parallel foreign exchange markets on Wednesday, October 14, 2026.
At the Nigerian Foreign Exchange Market (NFEM), the latest available rate stood at approximately ₦1,332.47 per dollar, based on figures reported on Tuesday, October 13.
In the parallel market, currency dealers are buying the dollar at ₦1,365 and selling it at ₦1,375. However, rates may differ depending on the location and dealer.
At the quoted parallel-market selling rate, purchasing $100 would cost approximately ₦137,500.
The naira’s performance is influenced by several factors, including foreign exchange supply and demand, crude oil revenue and monetary policy decisions.
Nigerians are advised to verify prevailing rates with their banks or licensed Bureau De Change operators before carrying out foreign exchange transactions.