Nigerians checking the dollar to naira today on Tuesday, November 3, 2026, will find a currency that is still sitting in the narrow band it has held for most of the past two weeks. The official rate on the Nigerian Foreign Exchange Market (NFEM) is about ₦1,346 to the dollar, while street dealers in Lagos, Abuja, Kano and Port Harcourt are selling the greenback at between ₦1,385 and ₦1,390.
The gap between the two markets is roughly ₦40 per dollar, a little under 3 per cent. That is far smaller than the chasm Nigerians lived with in 2023 and 2024, but it is still wide enough to matter if you are paying school fees abroad, settling an import invoice or planning a December trip.
Here is where things stand this morning, followed by what has been driving the naira and what to watch before the festive season.
Dollar to Naira Today at a Glance
| Market | Rate per $1 | Note |
|---|---|---|
| Official NFEM (CBN weighted average) | ₦1,346.26 | Latest published figure, Friday, October 30 |
| Official NFEM closing rate | ₦1,346.00 | Unchanged from the prior session |
| Black market, buying | ₦1,375 to ₦1,380 | Dealers’ quotes from major cities |
| Black market, selling | ₦1,385 to ₦1,390 | Some dealers quoted up to ₦1,395 on Monday |
| Gap between official and street selling rate | about ₦40 to ₦44 | Roughly 3 per cent |
A quick note on method. The Central Bank of Nigeria publishes the NFEM rate as the volume-weighted average of the day’s trades, and it usually appears with a lag. As this article went up on Tuesday morning, the freshest official print was Friday’s. Parallel market quotes, on the other hand, move through the day and differ from dealer to dealer, so treat them as a guide rather than a guaranteed price.
Official NFEM and CBN Rate: A Quiet Close to October
The CBN’s own data shows the naira trading at an average of ₦1,346.2565 per dollar on Friday, October 30, with the session closing at ₦1,346.00. That was a marginal improvement on the previous day, and it keeps the currency almost exactly where it stood through the last week of October.
It is worth remembering where the naira began the year. It opened 2026 at around ₦1,446 per dollar, which means today’s official rate is nearly 7 per cent stronger. The recovery was not a straight line, though. The currency touched about ₦1,315 per dollar in early September, its firmest level in years, before drifting back toward the ₦1,330s and now the mid-₦1,340s.
| Period (2026) | Official NFEM rate (₦/$) | What happened |
|---|---|---|
| January | about 1,446 | Naira opened the year weaker |
| Early September | about 1,315 | Strongest showing of the year as reserves climbed |
| September 22 | 1,327.78 | Rate holds in the ₦1,320s |
| Mid-October | 1,332.26 | Weekly close, a slight 0.08 per cent weekly slip |
| October 30 | 1,346.26 | Weighted average; close at ₦1,346.00 |
The small slide since September is modest, but it is consistent. Market watchers say it reflects steady demand for dollars from importers and travellers rather than any single shock.
Black Market Dollar to Naira Rate Today
On the informal market, the picture is one of stability with a mild upward lean. Dealers were buying dollars at roughly ₦1,375 to ₦1,380 and selling at ₦1,385 to ₦1,390 over the weekend and into Monday. Aboki Forex put its street reference rate at ₦1,382, while some trackers reported buying rates above ₦1,385 during Monday’s morning trading, a hint of renewed demand as the new month began.
Put simply, someone handing over $100 in cash would get roughly ₦138,000, while someone buying $100 would pay between ₦138,600 and ₦139,000.
| Date | Parallel market (₦/$) | Official NFEM (₦/$) | Approx. gap (₦) |
|---|---|---|---|
| September 22 | about 1,389 | 1,327.78 | about 61 |
| October 31 | 1,382 to 1,385 | 1,346.91 (Oct 29 print) | about 36 to 38 |
| November 1 | 1,385 to 1,390 | 1,346.26 | about 39 to 44 |
| November 2 | 1,375 buy / 1,390 sell | 1,346.26 | about 44 |
The trend in the table tells its own story. In late September the street premium was around ₦61. It has since narrowed to somewhere between ₦40 and ₦45, which is a sign that dollar supply in the formal market has been reasonably adequate.
How Much Is $1 to $10,000 in Naira Today?
The table below uses the latest official rate of ₦1,346.26 and a parallel market selling rate of ₦1,386.36.
| Dollar amount | At the official rate (₦) | At the parallel selling rate (₦) |
|---|---|---|
| $1 | 1,346.26 | 1,386.36 |
| $10 | 13,462.60 | 13,863.60 |
| $50 | 67,313 | 69,318 |
| $100 | 134,626 | 138,636 |
| $200 | 269,252 | 277,272 |
| $500 | 673,130 | 693,180 |
| $1,000 | 1,346,260 | 1,386,360 |
| $5,000 | 6,731,300 | 6,931,800 |
| $10,000 | 13,462,600 | 13,863,600 |
Naira to Dollar: What Your Money Buys
If you are going the other way, here is roughly how many dollars a given naira amount converts to.
| Naira amount | Dollars at the official rate | Dollars at the parallel rate |
|---|---|---|
| ₦50,000 | $37.14 | $36.07 |
| ₦100,000 | $74.28 | $72.13 |
| ₦500,000 | $371.41 | $360.65 |
| ₦1,000,000 | $742.82 | $721.34 |
Pound to Naira Today
British pound buyers are facing a similar spread. The CBN official rate for the pound stood at about ₦1,809.34 on Monday, while the black market rate was around ₦1,830, according to Aboki Forex. Other street trackers recorded the pound selling as high as ₦1,870 on November 1, so shop around if you are changing sterling.
Why the Naira Has Held Steady
Several forces are keeping the currency in a tight range.
Healthy reserves: Nigeria’s external reserves climbed past $54 billion in early September, reaching $54.08 billion as of September 3, the highest level in about 18 years. The CBN had projected only $51.04 billion for the end of 2026, so the country is running well ahead of its own forecast. Bigger reserves give the central bank more room to smooth out sudden swings.
Better oil earnings and inflows: Analysts at Cowry Assets Management have pointed to stronger oil revenues, improved dollar liquidity and rising reserves as supports for the naira in the near term.
Tight monetary policy: The CBN has kept a firm stance aimed at moderating inflation, which helps anchor confidence in the currency.
Market reforms: Since the 2023 reforms, official FX trading has become more transparent, and the narrow gap between formal and informal rates is one of the visible results.
What to Watch Before the Festive Season
Caution is still warranted. Last year, even with reserves rising, the naira weakened modestly in the closing weeks of the year as holiday travel, import settlements and retail stockpiling pushed up demand for dollars. FX inflows also thinned out sharply in November 2025. There is no guarantee the pattern repeats, but it is the kind of seasonal pressure that traders keep an eye on from November onward.
One more point from market analysts is that a calm closing print does not guarantee you can actually get dollars at that price. Businesses with foreign bills need to ask their banks what rate and amount can really be delivered, because execution at the counter can differ from the headline number.
Frequently Asked Questions
What is the dollar to naira rate today?
The official NFEM rate is about ₦1,346.26 per dollar, based on the latest CBN data for Friday, October 30. On the black market, the dollar sells for about ₦1,385 to ₦1,390.
What is the CBN dollar rate today?
The CBN’s reference rate follows the NFEM weighted average, which currently sits at roughly ₦1,346 per dollar.
What is the black market dollar rate today?
Dealers are buying at about ₦1,375 to ₦1,380 and selling at about ₦1,385 to ₦1,390, with some quotes slightly higher in busy markets.
How much is $100 in naira today?
At the official rate, $100 is about ₦134,626. At the parallel market selling rate, it is about ₦138,636.
Why is the black market rate higher than the official rate?
The two markets run on different supply and demand. Cash dollars are harder to access outside the banking system, so street dealers charge a premium, now around 3 per cent.
What is the difference between the NFEM rate and the closing rate?
The NFEM rate is the volume-weighted average of the day’s trades. The closing rate is the price at the end of the session, and the two can differ by a few kobo or naira.
Disclaimer: Exchange rates change throughout the day. The figures here were compiled on the morning of November 3, 2026, from the latest CBN data and parallel market quotes. Confirm current rates with your bank or an authorised dealer before you transact
