The US dollar traded at approximately ₦1,350 per dollar at the Nigerian Foreign Exchange Market (NFEM), while the naira exchanged between ₦1,411 and ₦1,419 per dollar in the parallel market on Wednesday, November 11, 2026.
Available exchange rate reports show that the official NFEM rate stood at approximately ₦1,350.36 per dollar on Tuesday, November 10. Meanwhile, parallel-market dealers quoted buying and selling rates of about ₦1,411 and ₦1,419, respectively.
In the parallel market, also known as the black market, exchange rates vary depending on location, dollar availability and the Bureau De Change (BDC) operator.
Based on the latest reported figures, individuals selling $1 to currency dealers could receive approximately ₦1,411, while those looking to purchase $1 may pay around ₦1,419.
At the official window, the NFEM rate serves as the benchmark for foreign exchange transactions in Nigeria and reflects trading activities in the regulated market.
The difference between the official rate of ₦1,350.36 and the parallel-market selling rate of ₦1,419 translates to a gap of approximately ₦68.64 per dollar, highlighting the continued disparity between the two market segments.
However, exchange rates are subject to fluctuations throughout the trading day, depending on dollar supply, demand and prevailing market conditions.
Nigerians are advised to verify prevailing exchange rates with their banks and licensed Bureau De Change operators before conducting foreign currency transactions.
