The naira is trading at different rates against the US dollar across Nigeria’s official and parallel foreign exchange markets on Thursday, November 5, 2026, with the parallel market maintaining a higher selling rate.
In the official Nigerian Foreign Exchange Market (NFEM), the dollar is quoted at approximately ₦1,347.30, based on the latest reported exchange rate.
Meanwhile, Bureau De Change (BDC) operators in the parallel market are buying the dollar at approximately ₦1,380 and selling at ₦1,390.
The figures show that Nigerians sourcing dollars through the parallel market are paying more than those accessing foreign exchange through the official window.
At the prevailing rates, the difference between the official NFEM rate and the parallel market selling rate stands at approximately ₦42.70 per dollar.
Exchange rates fluctuate in response to changes in dollar supply and demand, market liquidity and other foreign exchange activities. Rates offered by parallel market operators may also vary depending on location, dollar availability and transaction volume.
Nigerians seeking foreign exchange for international travel, school fees, business transactions and other payments are advised to confirm prevailing rates with their banks and licensed Bureau De Change operators before completing transactions.
