Naira Exchange Rate: How Much Is $100 In Naira Today?

The US dollar traded at approximately ₦1,332 in Nigeria’s official foreign exchange market on Tuesday, October 20, 2026, while the parallel market recorded higher rates for individuals and businesses seeking to purchase the currency.

According to Bush Radio Academy, the latest available figures from the Nigerian Foreign Exchange Market (NFEM) placed the official reference rate at around ₦1,332 per dollar.

Meanwhile, Bureau De Change (BDC) operators in the parallel market quoted varying rates depending on their location, the amount involved and prevailing market conditions.

The indicative exchange rates for Tuesday were as follows:

• Official NFEM rate: ₦1,332 per dollar.
• Black market buying rate: ₦1,365 per dollar.
• Black market selling rate: ₦1,380 per dollar.

The parallel-market figures are indicative and may differ among dealers. Customers are advised to confirm current quotations before completing foreign exchange transactions.

Based on the official reference rate of ₦1,332 per dollar, $100 was equivalent to approximately ₦133,200.

However, individuals purchasing $100 at the parallel-market selling rate of ₦1,380 per dollar would need about ₦138,000.

The difference between the two rates illustrates the additional cost that customers may incur when sourcing dollars through the parallel market rather than the official foreign exchange window.

The dollar-to-naira exchange rate remains an important consideration for importers, international travellers, students paying tuition fees abroad and businesses with expenses denominated in foreign currencies.

Those planning foreign exchange transactions are encouraged to contact their banks or licensed Bureau De Change operators for prevailing rates, as market quotations may fluctuate throughout the day.