The naira starts Wednesday, November 11, 2026, on a slightly softer footing. The latest official figure is about ₦1,350.86 to the dollar, and street dealers are quoting between ₦1,410 and ₦1,430. The Nigerian Foreign Exchange Market (NFEM) had not opened at the time of writing, so the official figure is Tuesday’s close.
Dollar to Naira Today at a Glance
| Market | Rate (₦ per $1) | Basis |
|---|---|---|
| Official NFEM / CBN rate | ₦1,350.86 | Latest available close (Tuesday, November 10) |
| Parallel market (buying) | ₦1,410 | Dealer quotes, November 10 |
| Parallel market (selling) | ₦1,420 to ₦1,430 | Dealer quotes, November 10 |
| Gap between both markets | About ₦59 to ₦79 | Roughly 4% to 6% |
Official NFEM and CBN Rate: A Gentle Slide
The naira closed at ₦1,350.86 per dollar on Tuesday, after touching ₦1,354 during the session and closing at ₦1,349.34 the day before. Reports tied the weakness to demand for international payments, settlement of offshore obligations and repatriation of funds.
The movement is small, and the official window has been remarkably steady for weeks. The rate has stayed within a few naira of ₦1,347 since the start of November. Early trading on Tuesday held in a narrow band between ₦1,343.35 and ₦1,347.32, before the later selloff pushed the close higher.
Activity picked up too. Dollar turnover rose about 18% to $248.07 million on Tuesday, from $210.38 million the previous day, with 144 deals led by dollar buyers. More buyers than sellers is usually what nudges a rate upward, even slightly.
The CBN reference rate follows the NFEM weighted average, so “CBN rate today” and “NFEM rate today” are effectively the same number. Trackers sometimes differ by a naira or two because some publish the weighted average and others the closing price.
Black Market Dollar to Naira Rate Today
On the parallel market, dealers were buying at ₦1,410 and selling at ₦1,430 on Tuesday. By evening, Aboki Forex put the street rate at ₦1,420. That is up from the ₦1,390 to ₦1,400 quoted earlier in the month.
Not every tracker agrees. Nairametrics reported Bureau De Change operators at ₦1,383 on Tuesday, up from ₦1,380 the day before, which put the gap at ₦33. Street rates vary by dealer, city and the size of the transaction, so treat any single figure as a guide. Quotes in Lagos, Abuja and Kano can differ on the same afternoon.
How the Rates Moved This Week
| Date (2026) | NFEM rate (₦/$) | Black market (₦/$) |
|---|---|---|
| Wednesday, November 4 | ₦1,346.43 | ₦1,390 |
| Thursday, November 5 | ₦1,348.74 | About ₦1,400 |
| Friday, November 6 | ₦1,346.79 | ₦1,390 to ₦1,415 |
| Monday, November 9 | ₦1,349.34 | ₦1,415 to ₦1,430 |
| Tuesday, November 10 | ₦1,350.86 | ₦1,410 to ₦1,430 |
The official rate has moved by only about ₦4 across the week. The parallel market has moved far more, climbing roughly ₦30 to ₦40 from its early-week level.
How Much Is $1 to $10,000 in Naira Today?
The table uses the official rate of ₦1,350.86 and a parallel-market rate of ₦1,420.
| Dollar amount | At the official rate (₦) | At the parallel rate (₦) |
|---|---|---|
| $1 | 1,350.86 | 1,420 |
| $10 | 13,508.60 | 14,200 |
| $50 | 67,543 | 71,000 |
| $100 | 135,086 | 142,000 |
| $500 | 675,430 | 710,000 |
| $1,000 | 1,350,860 | 1,420,000 |
| $5,000 | 6,754,300 | 7,100,000 |
| $10,000 | 13,508,600 | 14,200,000 |
On $1,000 alone, the difference is about ₦69,000. For a small importer or a student paying fees abroad, the market you buy from matters.
Pound and Euro Rates Against the Naira
| Currency | Official (CBN) | Parallel market |
|---|---|---|
| British pound (£1) | About ₦1,813 | About ₦1,850 |
| Euro (€1) | About ₦1,515 | About ₦1,560 |
These are indicative figures. The CBN published rates of about ₦1,813.39 for the pound and ₦1,514.85 for the euro. Street quotes ran higher.
Why the Naira Is Under Mild Pressure
Several things are at work, and none of them alone explains the move.
Reserves have dipped slightly: Nigeria’s external reserves stood at $55.06 billion on November 6, down from $55.133 billion the day before, a fall of about $73 million or 0.13%. The decline is minor and the buffer is still large, but traders watch the reserves figure closely.
Demand is steady at the retail end: Small importers and individuals who want dollars quickly keep feeding the parallel market. Some of them cannot wait for bank processing, and that keeps street prices above the official rate.
Corporate and offshore payments: Settlement of foreign obligations tends to bunch up toward the end of the week and month, which adds to dollar demand at the official window.
The Bigger Picture: A Stronger Naira Than a Year Ago
The short-term wobble should not hide the longer trend. The naira gained 6.26% against the dollar over the past year, reaching ₦1,346.79 on November 6, with CBN Governor Olayemi Cardoso backing a market-driven exchange rate. The currency opened 2026 at about ₦1,446 per dollar, so it is still roughly 7% stronger than at the start of the year.
For households, the practical effect has been slow. Prices of imported goods, from phones to car parts, do not fall as fast as the exchange rate improves. Whether the gains reach shelf prices depends on how quickly importers adjust and whether the naira holds its level.
Frequently Asked Questions
What is the dollar to naira rate today?
About ₦1,350.86 at the official NFEM, based on Tuesday’s close, and ₦1,410 to ₦1,430 on the black market.
Is the CBN rate the same as the NFEM rate?
Almost. The CBN reference rate follows the NFEM weighted average, so any difference is usually a naira or two.
How much is $100 in naira today?
About ₦135,086 at the official rate and ₦141,000 to ₦143,000 on the street.
Why is the black market rate higher than the official rate?
Dollars from dealers are quicker to get but cost more. Demand from small importers and individual buyers, who cannot always access the official window, supports the premium.
Does the official rate change on weekends?
No. The NFEM does not trade on weekends, so Friday’s close stays in place until Monday.
Exchange rates change throughout the day. The figures above are indicative and drawn from published market data and dealer quotes. Check with your bank or a licensed operator before transacting.
