The US dollar is trading at approximately ₦1,350 at the Nigerian Foreign Exchange Market (NFEM), while the naira exchanges between ₦1,411 and ₦1,419 per dollar at the parallel market on Wednesday, November 11, 2026.
Available exchange rate reports show that the official market rate stood at about ₦1,350.36 per dollar on Tuesday, November 10. Meanwhile, currency dealers in the parallel market quoted buying and selling rates of approximately ₦1,411 and ₦1,419, respectively.
At the parallel market, also referred to as the black market, exchange rates differ depending on the location and the Bureau De Change (BDC) operator.
The latest reported figures indicate that Nigerians selling $1 to currency dealers could receive about ₦1,411, while those buying the dollar may pay approximately ₦1,419.
At the official market, the NFEM rate serves as the benchmark for foreign exchange transactions in the country.
The difference between the reported official rate of ₦1,350.36 and the parallel market selling rate of ₦1,419 is approximately ₦68.64 per dollar.
However, exchange rates may fluctuate throughout the day, depending on dollar supply, demand and trading activities across the foreign exchange market.
Nigerians are advised to verify prevailing rates with their banks and licensed currency dealers before conducting foreign exchange transactions.