On Monday, June 29, 2026, the Nigerian naira was valued at ₦1,379.22 per U.S. dollar within the Nigerian Foreign Exchange Market (NFEM). Based on these figures, converting $100 yields ₦137,922, while $1,000 equals roughly ₦1.379 million.
Meanwhile, the parallel market—often called the black market—saw the dollar trading between ₦1,390 for purchases and ₦1,400 to ₦1,405 for sales. These prices fluctuated based on transaction size and location, particularly in hubs like Lagos and Abuja. At a standard sell rate of ₦1,400, converting $100 results in ₦140,000, and $1,000 equates to approximately ₦1.4 million.
The discrepancy between the official NFEM rate and the parallel market sits at approximately ₦21 per dollar. This stability is attributed to better foreign exchange liquidity and government policy adjustments. The Central Bank of Nigeria utilizes a volume-weighted average of official transactions to establish the benchmark rate. Consumers should note that specific rates at banks and bureaux de change can shift due to ongoing supply and demand pressures.
