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, according to the latest available market data.
The official rate indicates that $100 would exchange for about ₦137,922 at the NFEM window, while $1,000 would be worth approximately ₦1.379 million at the prevailing rate.
In the parallel market, commonly referred to as the black market, the dollar traded 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, including Lagos and Abuja.
At the average parallel market selling rate of ₦1,400 per dollar, $100 would fetch about ₦140,000, while $1,000 would exchange for roughly ₦1.4 million.
The spread between the official and parallel market rates remained relatively narrow at around ₦21 per dollar, reflecting the naira's continued stability in recent months amid improved foreign exchange liquidity and policy reforms aimed at supporting the local currency.
The Central Bank of Nigeria derives the NFEM rate using a volume-weighted average of transactions conducted in the official foreign exchange market, making it the country's benchmark exchange rate.
Exchange rates may vary slightly across banks, bureaux de change and different parallel market locations due to fluctuations in demand and supply conditions.
