Naira to Dollar exchange rate today, Wednesday, October 14, 2026
The US dollar is trading at approximately ₦1,332.47 at Nigeria’s official foreign exchange market, while parallel-market dealers are quoting the currency at ₦1,365 for buying and ₦1,375 for selling on Wednesday, October 14, 2026.
The exchange rates reflect the difference between the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, where individuals and businesses buy and sell foreign currencies through currency dealers.
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The latest available official rate, reported on Tuesday, October 13, stood at approximately ₦1,332.47 per dollar.
Meanwhile, the dollar continues to attract different quotations in the parallel market, depending on the location and the dealer involved.
Official dollar to naira exchange rate today
At the Nigerian Foreign Exchange Market, the dollar was quoted at approximately ₦1,332.47, based on the latest available figures as of Tuesday, October 13.
The official market serves as a major reference point for foreign exchange transactions in Nigeria.
Movements in this market are influenced by the availability of foreign currencies, demand from businesses and individuals, and monetary policy measures introduced by the Central Bank of Nigeria (CBN).
However, the quoted figure represents the latest available rate and should not be interpreted as a confirmed live rate for Wednesday morning.
Dollar to naira rate in the parallel market
In the parallel market, Bureau De Change operators and other currency dealers are quoting the dollar at ₦1,365 for buying and ₦1,375 for selling.
The buying rate is the amount dealers pay customers who sell dollars to them, while the selling rate is the amount customers pay to purchase dollars from the dealers.
Rates may differ across cities and individual currency markets, depending on demand, supply and the terms offered by dealers.
Based on the quoted rates, the dollar costs more in the parallel market than at the official window.
How much is $100, $500 and $1,000 in naira today?
Using the parallel-market selling rate of ₦1,375 per dollar, the following estimates show how much Nigerians would need to purchase different amounts of US dollars.
– $100: ₦137,500
– $200: ₦275,000
– $500: ₦687,500
– $1,000: ₦1,375,000
These figures are estimates based on the stated selling rate. The actual amount payable may vary depending on the dealer’s quotation and any applicable transaction charges.
At the official rate of ₦1,332.47 per dollar, $100 would be equivalent to approximately ₦133,247, while $1,000 would amount to about ₦1,332,470.
However, access to foreign exchange at the official rate depends on the applicable transaction requirements and the channel through which the currency is obtained.
Factors influencing the naira’s exchange rate
The naira’s performance against the dollar is affected by several economic factors, including foreign exchange supply and demand, crude oil earnings, capital inflows and monetary policy decisions.
Nigeria’s ability to generate foreign exchange through crude oil exports and other sources can influence the availability of dollars in the domestic market.
Similarly, demand for foreign currency from importers, manufacturers, travellers and other businesses can put pressure on the naira when dollar supply is insufficient.
Measures taken by the Central Bank of Nigeria to manage liquidity and improve foreign exchange market operations can also affect exchange-rate movements.
Advice for Nigerians buying or selling dollars
Individuals and businesses planning foreign exchange transactions are advised to confirm the prevailing rate before completing their deals.
Customers should check with their banks or licensed Bureau De Change operators to establish the applicable buying and selling rates, as quotations may change during the day.