Posted by Chinenye on Tue 06th Oct, 2026 - tori.ng
The naira barely moved against the dollar on Tuesday, with only a small difference between the official and street rates.
(Dollar to Naira. Photo Credit: Investor King)
The naira traded in a tight range against the US dollar on Tuesday, October 6, 2026, with the official market rate at about ₦1,332.90 per dollar and the parallel market rate at around ₦1,357.
Data from the Central Bank of Nigeria showed the naira slipped slightly at the official Nigerian Foreign Exchange Market (NFEM), as the dollar rose to ₦1,332.90 from ₦1,332 at the close of last week.
On the parallel market, the naira gained a bit.
The dollar fell to about ₦1,357 from ₦1,362 at the weekend.
This brought the gap between both markets down to about ₦24.10 per dollar, from ₦30 over the weekend.
The figures show the naira is still moving with little swing, while businesses, investors and everyday buyers keep a close eye on dollar supply and market conditions.
The CBN says the NFEM rate is worked out using a volume-weighted average and serves as the official rate for the day.
Parallel market rates can differ depending on location, dealer and the size of the deal.
The gap between the two markets is also much smaller than the wide spreads seen when pressure on the foreign exchange market was high, a sign that both rates are still moving closer together.