The naira was quoted at approximately ₦1,347.44 per dollar at the official reference rate, while the US dollar sold for about ₦1,395 in the parallel market on Tuesday, November 3, 2026.
The figures reflect a difference between Nigeria’s official foreign exchange market and the rates offered by Bureau de Change (BDC) operators.
According to exchange rate figures reported by Vanguard, the parallel market buying rate stood at approximately ₦1,380 per dollar, while the selling rate was ₦1,395.
The official rate of ₦1,347.44 represents the latest reported CBN central reference rate, while the actual NFEM trading figures are published separately by the Central Bank of Nigeria. <Cite refs={[“turn820310search1″,”turn820310search0″,”turn820310search5”]}/>
Dollar to naira exchange rate in the parallel market
In the parallel market, currency dealers quoted the dollar at the following rates on Tuesday:
- Buying rate: ₦1,380 per dollar
- Selling rate: ₦1,395 per dollar
The buying rate is the amount BDC operators pay customers who sell their dollars, while the selling rate is what customers pay when purchasing the foreign currency.
These figures are indicative and may vary across locations depending on dollar availability, transaction size and individual dealers.
How much is $100 in naira today?
Based on the reported exchange rates, here is how much selected dollar amounts are worth in naira.
| Dollar amount | Official rate (₦1,347.44) | Parallel rate (₦1,395) |
|---|---|---|
| $1 | ₦1,347.44 | ₦1,395 |
| $10 | ₦13,474.40 | ₦13,950 |
| $50 | ₦67,372 | ₦69,750 |
| $100 | ₦134,744 | ₦139,500 |
| $200 | ₦269,488 | ₦279,000 |
| $500 | ₦673,720 | ₦697,500 |
| $1,000 | ₦1,347,440 | ₦1,395,000 |
Anyone purchasing $100 at the reported parallel-market selling rate would pay approximately ₦139,500, compared with ₦134,744 at the official reference rate.
Difference between official and parallel-market rates
The difference between the reported official reference rate of ₦1,347.44 and the parallel-market selling rate of ₦1,395 is approximately ₦47.56 per dollar.
This means the parallel-market selling rate is ₦47.56 higher for every dollar purchased.
The difference reflects the separate market conditions and pricing arrangements within Nigeria’s foreign exchange system.
However, actual transaction rates may differ depending on the location, dealer and availability of foreign currency.
Advice for dollar buyers and sellers
Nigerians planning foreign exchange transactions are advised to confirm prevailing rates with their banks or authorised dealers before buying or selling dollars.
The figures provided are indicative market quotations and should not be treated as guaranteed transaction rates. Exchange rates can change as market conditions evolve.
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