The Naira is currently exchanging at ₦1,379.22 to the United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, June 29, 2026, according to the latest official market figures.

At the prevailing official exchange rate, $100 was valued at about ₦137,922, while $1,000 exchanged for approximately ₦1.379 million through the NFEM window.

In the parallel market, also known as the black market, the dollar traded at buying rate of around ₦1,390 for buying and between ₦1,400 and ₦1,405, on the black market depending on the location, transaction size and dealers’ quotations in major commercial centres such as Lagos and Abuja.

Using the average parallel market selling price of ₦1,400 per dollar, $100 was worth about ₦140,000, while $1,000 exchanged for roughly ₦1.4 million.

The difference between the official and parallel market rates stood at approximately ₦21 per dollar, a relatively slim margin that reflects the naira’s sustained stability in recent months amid improved foreign exchange liquidity and ongoing reforms aimed at strengthening the local currency.

The NFEM rate serves as Nigeria’s benchmark exchange rate and is determined by the Central Bank of Nigeria through a volume-weighted average of transactions carried out in the official foreign exchange market.

Foreign exchange rates may, however, differ slightly across commercial banks, bureaux de change and various parallel market locations due to changing market demand and supply conditions.

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