The dollar to naira rate today, Sunday, November 8, 2026, is about ₦1,346.79 at the official Nigerian Foreign Exchange Market (NFEM), while dealers on the parallel market are quoting between ₦1,390 and ₦1,415 per dollar. The NFEM is closed at weekends, so the official figure is simply Friday’s closing rate and will not move until trading resumes on Monday.
Nigerians heading into a new week are therefore looking at a gap of roughly ₦45 to ₦68 between what the banks quote and what the street charges.
Official NFEM and CBN Rate: A Small Bounce to End the Week
The naira had a slightly unsteady week at the official window. Central Bank of Nigeria figures showed the currency at ₦1,346.79 per dollar on Friday, an improvement from ₦1,348.74 the day before, a gain of ₦1.95. The move was small, and the local currency had slipped for several sessions before it.
Some trackers show slightly different numbers for the same day. The CBN’s reference rate follows the NFEM weighted average, while some outlets publish the closing price instead, and the two can sit a naira or two apart. One daily economy brief put Thursday’s close at ₦1,350.45, which is higher than the CBN-linked figure most outlets reported. Readers who need an exact number for a transaction should check the CBN’s own published data on Monday.
Parallel market figures differ between sources because dealers in Lagos, Abuja and Kano do not all quote the same price on the same hour.
Black Market Dollar to Naira Rate Today
On the street, the dollar is selling at about ₦1,390 to ₦1,415. Street dealers are quoting between ₦1,390 and ₦1,415 per dollar on the black market. Some trackers lean higher: one rate aggregator listed ₦1,425 to buy and ₦1,410 to sell on Thursday, while another had the selling rate at ₦1,390 on Saturday.
On Tuesday, the margin between the parallel and official markets narrowed to ₦26.25 per dollar from ₦30.99 the day before. By the end of the week it had widened again to about ₦60 on some quotes, which tells you how quickly sentiment on the street can turn. Parallel-market quotes also keep running through the weekend, unlike the official window.
Why the Naira Has Held Within a Narrow Range
The naira has stayed in a fairly tight band for several weeks. It has recently traded in a range of roughly ₦1,330 to ₦1,370, and today’s rate sits near the middle of it. Compared with the start of the year, the picture is better. It opened 2026 at around ₦1,446 per dollar, so the current official rate is nearly 7 per cent stronger. Over the past 52 weeks, the currency has moved between roughly ₦1,314 and ₦1,465.
The main support is the size of Nigeria’s foreign reserves. The country’s foreign exchange buffer gained $9.66 billion between January 2 and October 30, 2026, a fourfold increase on what was added over the same period last year. The same report put liquid external reserves at $54.71 billion as of October 30. Reserves first crossed the $54 billion mark in September, a level not seen since December 2008, helped by higher oil earnings and other foreign exchange inflows. The CBN had projected only about $51.04 billion for the end of 2026, so the target has been comfortably beaten.
Strong reserves have not meant a one-way climb for the naira, though. Earlier in the year, BusinessDay noted that renewed demand for foreign exchange can outweigh the positive sentiment from rising reserves, and that pattern can repeat as the year ends.
What Could Move the Rate This Week
Three things are worth watching when the market reopens on Monday.
First, whether the official rate drifts back toward ₦1,346 or slips past ₦1,350. A move beyond ₦1,350 would suggest the late-week bounce was temporary.
Second, seasonal demand. Festive travel, school fees and year-end import payments typically lift dollar demand from November into December, and that pressure tends to show up first on the parallel market.
Third, any CBN intervention. The apex bank has stepped into the market in past months when the naira came under strain, and dealers often adjust their quotes quickly when such news breaks.
Frequently Asked Questions
What is the dollar to naira rate today?
The official NFEM rate is about ₦1,346.79 per dollar, based on Friday’s close. On the black market, dealers are quoting ₦1,390 to ₦1,415.
Is the CBN rate the same as the NFEM rate?
In practice, yes. The CBN reference rate follows the NFEM weighted average, though different trackers may show figures a naira or two apart.
Why is there no new official rate today?
The NFEM trades on business days only. The Friday closing rate stays in place until trading resumes on Monday, November 9.
Why is the black market rate higher than the official rate?
Demand for dollars outside the banking system, especially for travel, tuition and small-scale imports, keeps the parallel market priced above the official window.
Rates change through the day and differ by location and dealer. Confirm current figures with your bank or a licensed Bureau De Change operator before any transaction.
