Dollar trades at N1,379 in official market, N1,400 in parallel market

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Exchange rates vary slightly across banks, bureaux de change and parallel market locations. This is due to changes in demand and supply conditions.

On Monday, June 29, 2026, the official rate at the Nigerian Foreign Exchange Market (NFEM) window showed that $100 exchanged for about N1,379.22.

The Central Bank of Nigeria calculates the NFEM rate using a volume-weighted average of transactions in the official market. This makes it the country's benchmark exchange rate.

In the parallel market, also known as the black market, the dollar traded at around N1,390 for buying. Selling rates ranged between N1,400 and N1,405. These rates depend on location, transaction volume, and dealer quotations.

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