The US dollar is exchanging at approximately ₦1,390 in Nigeria’s parallel foreign exchange market on Wednesday, November 4, 2026, as Bureau De Change operators continue to quote different rates depending on location and dollar availability.
In the official foreign exchange market, the naira was last quoted at approximately ₦1,346.43 per dollar, based on the latest available Nigerian Foreign Exchange Market (NFEM) figures for Tuesday, November 3.
The difference between the official and parallel-market rates reflects the varying conditions in Nigeria’s foreign exchange market.
Black market dollar rate today
Checks in the parallel market indicate that currency dealers are buying one US dollar at approximately ₦1,380 and selling it for around ₦1,390.
However, the rates are not fixed nationwide. The amount offered by individual dealers may vary depending on their location, available dollar supply, demand and the volume of the transaction.
People planning to exchange dollars are therefore advised to confirm the prevailing rate with dealers before completing their transactions.
How much is $100 in naira today?
Using the reported exchange rates for Wednesday, November 4, the value of $100 varies between the official and parallel markets.
- Official market: $100 × ₦1,346.43 = ₦134,643
- Black market: $100 × ₦1,390 = ₦139,000
This means that the difference between the two rates is approximately ₦43.57 per dollar, or ₦4,357 for every $100 exchanged.
Factors influencing the naira’s performance
The naira’s value against the dollar continues to be influenced by foreign exchange supply, demand from importers and businesses, financial market liquidity and broader economic conditions.
Changes in dollar availability can affect the rates quoted by banks and currency dealers, resulting in differences between the official and parallel markets.
Individuals and businesses planning foreign exchange transactions should check current quotations with their banks and authorised currency dealers, as rates can change during the day.
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