The naira traded at about N1,331 to the US dollar on the official market during early trading on Friday, October 16. Rates fluctuated slightly, with some market indicators placing the dollar between N1,330 and N1,333.
In the parallel market, Bureau de Change operators in Lagos and Abuja quoted buying rates of N1,355 to N1,365 per dollar. Selling prices ranged from N1,375 to N1,390, though rates may vary by dealer and location.
The gap between the official and parallel market rates remained relatively narrow. Market observers linked the steadiness to moderated speculative activity and continued foreign exchange inflows. These figures reflect intraday trading and may change as the market progresses.
