Dollar to Naira exchange rate today, October 28, 2026

The Nigerian Naira maintained relative stability against the United States Dollar across both official and parallel foreign exchange markets on Wednesday, October 28, 2026. Continued liquidity injections by the Central Bank of Nigeria and sustained foreign currency inflows from autonomous channels have helped cushion the local currency against aggressive market pressures.

At the official Nigerian Foreign Exchange Market, the Naira traded around 1,341.31 to 1,352.87 per Dollar.

Spot market activity recorded moderate intra-day fluctuations as commercial banks and institutional buyers satisfied forex demand for import bills and capital remittances. The tight corridor underscores ongoing market clearing measures established under the refined operational framework of the central bank.

In the parallel market, commonly referred to as the black market, Bureau De Change operators and street currency traders in major hubs such as Lagos, Abuja, and Kano quoted buying rates near 1,375 Naira per Dollar and selling rates around 1,390 Naira per Dollar. This keeps the premium between the official window and the unauthorised market relatively narrow.

Financial analysts attribute the steadying market conditions to disciplined monetary policy, steady national foreign exchange reserves hovering around key operational benchmarks, and balanced seasonal demand.

Market participants expect trading volumes to remain steady over the near term as both official and informal windows absorb regular commercial order flows.