The Nigerian naira opened trading on Friday, October 30, 2026, relatively stable against the United States dollar across the official foreign exchange market and the parallel market.
The currency’s performance follows continued liquidity support from the Central Bank of Nigeria (CBN) and sustained inflows from Nigerians in the diaspora.
At the Nigerian Foreign Exchange Market (NFEM), the dollar was quoted at N1,346.86 during early morning trading.
Liquidity conditions remained orderly for commercial banks and corporate importers, with foreign exchange demand for international trade payments, school fees and capital repatriation being accommodated through authorised channels.
In the parallel market, also known as the black market, Bureau De Change operators and street currency traders in major commercial centres, including Lagos, Abuja and Kano, quoted buying rates at approximately N1,375 per dollar.
The selling rate stood around N1,385 per dollar.
The difference between the official and parallel market rates remained relatively narrow.
Financial analysts attributed the naira’s relative stability to Nigeria’s foreign reserve position, which remained above $55bn, providing the CBN with additional capacity to manage short-term foreign exchange demand and support market stability.
Market observers expected trading conditions to remain relatively steady throughout the business day as routine demand continued to be accommodated by available liquidity.
Source: Vanguard
