The dollar-to-naira exchange rate remains a critical indicator for businesses, importers and Nigerians tracking developments in the foreign exchange market.
Nigeria operates two major segments of the foreign exchange market: the Nigerian Foreign Exchange Market (NFEM), which serves as the official channel for foreign currency transactions, and the parallel market, which provides an alternative source of dollars for individuals and businesses.
As of Monday morning, November 9, 2026, the latest available official NFEM closing rate was approximately ₦1,346.79 per dollar, based on market data for Friday, November 6, published by the Central Bank of Nigeria (CBN).
Meanwhile, in the parallel market, the dollar was trading between ₦1,415 and ₦1,430, depending on the dealer and location.
The difference between the official and parallel-market rates stood at approximately ₦68 to ₦83 per dollar, highlighting the persistent gap between the two segments of Nigeria’s foreign exchange market.
However, parallel-market rates are indicative and may fluctuate throughout the day in response to changes in dollar supply, demand and prevailing market conditions.
