The Nigerian naira traded within a relatively narrow range against the United States dollar at the official foreign exchange market on Tuesday, November 10, 2026, with the dollar averaging ₦1,346.51, while parallel-market dealers quoted rates as high as ₦1,430.
The latest figures show that the difference between the official and parallel foreign exchange markets remains significant, despite limited movements recorded at the official window.
The exchange rate update is important for Nigerians, importers, business owners, travellers and individuals monitoring the cost of purchasing foreign currency.
Official dollar to naira exchange rate today
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the dollar traded between ₦1,343.35 and ₦1,347.32 during Tuesday’s session.
The average exchange rate settled at ₦1,346.51 per dollar, reflecting relatively modest fluctuations during trading.
The NFEM is Nigeria’s official foreign exchange market, where exchange rates are influenced by demand and supply through authorised transactions.
Market participants continue to monitor foreign exchange availability, demand from authorised dealers and the Central Bank of Nigeria’s liquidity management measures for their potential impact on the naira.
Black market dollar to naira exchange rate today
In the parallel market, popularly known as the black market, the dollar was quoted at approximately ₦1,410 for buying and ₦1,430 for selling on Tuesday.
However, the actual rate may vary depending on location, foreign currency availability and individual Bureau de Change operators.
Unlike the official market, parallel-market quotations are not uniform and can change throughout the day depending on demand and supply conditions.
Difference between official and black market rates
A comparison of the reported figures shows that the parallel-market rate was between ₦63.49 and ₦83.49 higher per dollar than the official NFEM average.
For someone purchasing $100, the cost would be approximately ₦134,651 at the official rate, compared with ₦143,000 at the parallel-market selling rate.
Similarly, purchasing $1,000 would cost approximately ₦1,346,510 at the official market rate and ₦1,430,000 in the parallel market.
This represents an additional ₦83,490 for every $1,000 purchased at the reported parallel-market selling rate.
Factors influencing the naira’s performance
The difference between the two exchange markets reflects continuing variations in access to foreign currency.
Demand from importers, travellers, individuals and businesses seeking immediate access to dollars contributes to activity in the parallel market.
Meanwhile, foreign exchange supply through authorised banking channels, foreign reserve levels, export proceeds and demand for legitimate international transactions remain important factors influencing the official market.
Although the naira recorded relatively modest movements at the official window on Tuesday, the gap between the two markets indicates that differences in foreign currency access remain an issue for individuals and businesses.
Market participants will continue monitoring foreign exchange inflows, demand patterns and CBN policies for indications of how the naira may perform in subsequent trading sessions.
Dollar to Naira Exchange Rate Summary for Tuesday, November 10, 2026
- Official NFEM average rate: ₦1,346.51 per dollar
- Official trading range: ₦1,343.35–₦1,347.32
- Parallel-market buying rate: ₦1,410
- Parallel-market selling rate: ₦1,430
- Difference between official and parallel selling rates: ₦83.49 per dollar
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