Naira falls N17.43/$ at official FX window as black market rates ease

The naira depreciated by at least N17.43 against the US dollar at the official foreign exchange window on Friday, October 23rd, 2026. It traded at N1,361.8394 per dollar at the Nigerian Foreign Exchange Market (NFEM) and closed at N1,370.0000 per dollar, according to Central Bank of Nigeria (CBN) data.

Official window

The CBN platform showed the NFEM rate at N1,361.8394 per dollar. The currency had traded at an NFEM rate of N1,344.4049 on October 22nd, 2026. After Friday's trading, it had lost at least N17.43.

Parallel market

At the parallel market, the buying rate dropped by N3 and the selling rate dropped by N6 when compared with Thursday, October 22nd, 2026. AbokiFX data showed the naira-to-dollar rate at the black market on Friday, October 23rd, 2026, at N1,370 and N1,377 per dollar for buying and selling, respectively.

What it means

The official closing rate was N1,370.0000 per dollar, matching the black market buying rate. The parallel selling rate was N1,377 per dollar, N7 above the official closing rate. The naira therefore ended the week weaker at the official window while black market rates eased slightly.