The US dollar exchanged at approximately ₦1,346.79 at Nigeria’s official foreign exchange market, while the parallel market rate ranged between ₦1,415 and ₦1,430 on Monday morning, November 9, 2026.
The latest figures provide an update for Nigerians, business owners, importers, travellers and others monitoring movements in the country’s foreign exchange market.
The official exchange rate is based on the latest available closing data from the Nigerian Foreign Exchange Market (NFEM) for Friday, November 6, as published by the Central Bank of Nigeria (CBN).
At the official market, the dollar-to-naira exchange rate stood at approximately ₦1,346.79, representing the latest available benchmark as trading resumes for the new week.
The NFEM is Nigeria’s official foreign exchange market, where the value of the naira against other currencies is determined by market demand and supply.
In the parallel market, popularly known as the black market, the dollar was quoted between ₦1,415 and ₦1,430 on Monday morning.
However, the actual exchange rate available to buyers and sellers may vary depending on their location, the dealer involved and the availability of foreign currency.
Unlike the official market, parallel-market rates are not fixed and may change throughout the day as demand and supply conditions shift.
Based on the reported figures, the difference between the official and parallel-market rates stood between ₦68.21 and ₦83.21 per dollar.
For individuals purchasing $100, the equivalent would be approximately ₦134,679 at the official rate, compared with between ₦141,500 and ₦143,000 at the parallel-market rate.
Similarly, purchasing $1,000 would cost approximately ₦1,346,790 at the official rate and between ₦1,415,000 and ₦1,430,000 in the parallel market.
The difference highlights the additional cost that individuals and businesses may face when sourcing foreign currency outside the official market.
Exchange rates remain subject to changes influenced by dollar supply, demand for foreign currency, market liquidity and the monetary policy decisions of the Central Bank of Nigeria.
Nigerians are advised to confirm prevailing rates with authorised foreign exchange providers before conducting transactions, as parallel-market quotations are indicative and may differ from actual buying and selling prices.
Dollar to Naira Exchange Rate Summary for Monday, November 9, 2026
- Official NFEM rate: ₦1,346.79 per dollar
- Parallel-market buying and selling range: ₦1,415–₦1,430 per dollar
- Difference between the two markets: ₦68.21–₦83.21 per dollar
- Official rate reference date: Friday, November 6, 2026
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