Naira to Dollar exchange rate today, Tuesday, October 6, 2026
The naira traded at about ₦1,332.90 to the US dollar on the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, October 6, 2026, while the parallel market rate stood at approximately ₦1,357 per dollar.
Naira records slight movement at official window
Data from the Central Bank of Nigeria (CBN) indicated that the local currency weakened marginally at the official market compared with the previous weekend’s closing rate of ₦1,332 per dollar.
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The dollar therefore gained slightly against the naira, pushing the official exchange rate to ₦1,332.90.
The movement suggests that the official market remained relatively stable, with no significant swings recorded during the period under review.
Parallel market rate falls to ₦1,357
The naira performed better in the parallel market, where the dollar declined to around ₦1,357 from approximately ₦1,362 recorded at the weekend.
The latest movement represents a ₦5 appreciation for the naira in the unofficial market.
However, parallel-market rates may differ depending on the location of the transaction, the dealer involved and the amount of dollars being exchanged.
Gap between both markets narrows
With the official rate at ₦1,332.90 and the parallel rate at ₦1,357, the difference between the two markets stood at approximately ₦24.10 per dollar.
This is narrower than the roughly ₦30 gap recorded at the weekend, pointing to continued convergence between the official and parallel foreign exchange markets.
The relatively small difference also indicates that the naira has continued to trade within a fairly tight range despite ongoing attention to foreign exchange liquidity and market conditions.
CBN explains official exchange rate
The CBN has stated that the NFEM exchange rate is determined using a volume-weighted average of transactions in the official market and serves as the benchmark rate for the day.
For Tuesday, October 6, the official rate was therefore about ₦1,332.90 per dollar, compared with approximately ₦1,357 in the parallel market.
The continued narrowing of the gap between the two markets reflects a stronger alignment in exchange-rate pricing compared with periods when foreign exchange pressures caused significantly wider disparities.