Dollar to Naira exchange rate today, October 29, 2026
AI Executive Briefing
Gemini Flash AI~45s readThe Nigerian Naira exhibited stability against the US dollar across both official and parallel markets on Thursday. This performance is underpinned by ongoing liquidity interventions from the Central Bank of Nigeria and robust external reserves.
Context & Background
- ✦The Central Bank of Nigeria continues to implement market interventions to manage demand pressure and maintain liquidity in the foreign exchange market.
- ✦The parallel market premium remains narrow, indicating a relatively balanced supply and demand environment across both formal and informal channels.
Key Figures & Named Entities
Central Bank of Nigeria:Providing liquidity support and market interventions to ease demand pressure.External Reserves:Reported to be holding above $55 billion.
Outlook & Next Steps
Market participants anticipate that trading conditions will remain stable as commercial order flows are absorbed throughout the business day.
Key Takeaways
AI Summary- The Naira maintained steady trading conditions against the US dollar across both official and unofficial exchange channels on Thursday.
- The official Nigerian Foreign Exchange Market (NFEM) recorded a trading rate of N1,346.05 per US dollar.
- Market stability is supported by external reserves exceeding $55 billion and consistent inflows from oil exports and diaspora remittances.
Key Facts:October 29, 2026: The Naira traded at N1,346.05 per US dollar at the official Nigerian Foreign Exchange Market.$55 billion: External reserves are reported to hold above $55 billion, providing liquidity support.October 29, 2026: Parallel market operators quoted selling rates near N1,385 per dollar.
Editorial Excerpt
Trading in Nigeria’s foreign exchange market opened on Thursday with the local currency displaying steady conditions against the United States dollar across both official and unofficial channels.
Frequently Asked Questions About This Story
What was the official exchange rate of the Naira on October 29, 2026?
The Naira traded at approximately N1,346.05 per US dollar at the official Nigerian Foreign Exchange Market.
What factors are contributing to the current stability of the Naira?
Stability is attributed to sustained external reserves above $55 billion, liquidity support from the Central Bank of Nigeria, and strong inflows from oil exports and diaspora remittances.
