The Nigerian naira traded at an official exchange rate of ₦1,379.22 per United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, June 29, 2026, based on the latest available market data.
The official rate means that $100 would exchange for approximately ₦137,922 at the NFEM window, while $1,000 would be valued at about ₦1.379 million at the prevailing rate.
In the parallel market, also known as the black market, the dollar exchanged 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 such as Lagos and Abuja.
Using the average parallel market selling rate of ₦1,400 per dollar, $100 would amount to about ₦140,000, while $1,000 would exchange for approximately ₦1.4 million.
The difference between the official and parallel market rates remained relatively small at about ₦21 per dollar, showing continued stability in the naira market in recent months amid improved foreign exchange liquidity and ongoing policy measures aimed at strengthening the local currency.
The Central Bank of Nigeria calculates the NFEM rate through a volume-weighted average of transactions carried out in the official foreign exchange market, making it the country’s benchmark exchange rate.
However, exchange rates may differ slightly across banks, bureaux de change operators and various parallel market locations due to changes in demand, supply and prevailing market conditions.
