Naira to Dollar rate today, October 29, as Dollar climbs in black market
Nigeria’s naira remained largely stable on Wednesday at the official exchange window, even as the dollar strengthened in the parallel market.
At the Nigerian Foreign Exchange Market (NFEM), the dollar traded between ₦1,455 and ₦1,458, while street traders sold it for ₦1,480 to ₦1,500.
The difference shows that the gap between official and black-market rates is still far from closing.
Why the Markets Differ
Market reports show that the naira’s steady performance in the official market came from better foreign inflows and liquidity in recent days.
Yet, informal traders continued to sell at higher rates due to strong importer demand and limited access to foreign currency.
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