The United States dollar is trading at about ₦1,350 at the Nigerian Foreign Exchange Market on Wednesday, November 11, 2026, while the naira exchanges at between ₦1,411 and ₦1,419 to the dollar in the parallel market.
Available exchange rate reports show that the official market rate stood at roughly ₦1,350.36 per dollar on Tuesday, November 10. Parallel-market dealers quoted buying and selling rates of about ₦1,411 and ₦1,419 respectively.
The parallel market, also called the black market, does not have a uniform rate, as the price of the dollar varies with location and the Bureau De Change (BDC) operator involved.
According to the latest figures from that market, Nigerians who sell $1 to currency dealers could receive about ₦1,411, while those who buy $1 may have to pay about ₦1,419.
In the official window, the NFEM rate remains the benchmark for foreign exchange transactions in Nigeria.
The gap between the reported official rate of ₦1,350.36 and the parallel-market selling rate of ₦1,419 is about ₦68.64 per dollar.
The exchange rate may move during the day, depending on dollar supply, demand and trading activity across the foreign exchange market.
Nigerians are advised to confirm prevailing rates with their banks and licensed currency dealers before carrying out any foreign exchange transaction.
