The naira goes into the weekend under pressure. The official window sits around ₦1,358 to the dollar, while street dealers quote between ₦1,435 and ₦1,445. That puts the parallel market near its highest level in about ten months.
Saturday is a non-trading day at the Nigerian Foreign Exchange Market (NFEM), so the official figures below are the most recent ones available. Black-market rates move through the weekend and differ from one dealer to the next.
Dollar to Naira Today at a Glance
| Market | Rate per $1 | Basis |
|---|---|---|
| Official NFEM / CBN benchmark | ₦1,358.34 | Weighted average used for settlements on Friday, November 13 |
| NFEM close | ₦1,358.50 | Thursday, November 12 session |
| NFEM interbank close | ₦1,364.00 | Wednesday, November 11 session |
| Black market (dealers buying) | ₦1,425 to ₦1,437 | Reported November 13–14 |
| Black market (dealers selling) | ₦1,440 to ₦1,445 | Reported November 13–14 |
Official NFEM and CBN Rate: A Slow Slide With One Sharp Step
The official rate has not collapsed. It has drifted. Early Friday indicators put the dollar between ₦1,344.30 and ₦1,358.34, with the CBN’s weighted average at ₦1,358.34. The NFEM closed Thursday at ₦1,358.50 after trading between ₦1,348 and ₦1,363.75.
The steepest move came midweek. The official window lost ₦10.50 in a single session, going from ₦1,353.50 to ₦1,364.00, its biggest one-day fall since October 22. The naira has since recovered a little ground, but it has not returned to the ₦1,346 to ₦1,350 range where it began November.
At the time of writing, I could not find a confirmed CBN closing figure for Friday. Banks and corporate buyers were reportedly using the ₦1,358.34 benchmark for morning settlements, so treat that as the working official rate until the Central Bank publishes the final number.
The week in numbers
| Date (2026) | Official NFEM (₦/$) | Black market (₦/$) |
|---|---|---|
| Mon, November 2 | 1,346.01 | about 1,390 |
| Thu, November 5 | 1,350.45 | 1,400 to 1,415 |
| Fri, November 6 | 1,346.79 | about 1,400 |
| Mon, November 9 | 1,349.34 | 1,410 to 1,430 |
| Tue, November 10 | 1,350.86 (weighted avg.) | 1,420 to 1,430 |
| Wed, November 11 | 1,364.00 (interbank close) | 1,430 to 1,440 |
| Thu, November 12 | 1,358.50 | 1,445 (Abuja BDC quote) |
| Fri, November 13 | 1,358.34 (benchmark) | 1,435 to 1,445 |
Sources differ slightly on some of these figures because the CBN reports a weighted average, a closing rate and an interbank rate. They measure different things.
Black Market Dollar to Naira Rate Today
Street dealers have been steadily raising their quotes. Earlier this week the parallel market touched ₦1,430 per dollar, a ten-month low for the naira. On Friday, most operators were buying dollars at roughly ₦1,425 to ₦1,433 and selling at ₦1,440 to ₦1,445, depending on location, transaction size and the condition of the notes. A Saturday report put the buying rate at ₦1,436.66 and the selling rate at ₦1,442.90.
The gap between the two markets matters to anyone who deals in dollars. The street premium is about ₦80 to ₦90, or roughly 6 percent above the official window. That is a wider spread than the single-digit differences seen earlier in the year, and it is the main reason people are asking which rate they will actually get.
Why the Naira Is Under Pressure
Analysts point to a mix of seasonal and external factors rather than a single trigger:
- Year-end import demand: Analysts cite festive-season importer demand, travel expenses, foreign portfolio outflows and a firmer US dollar.
- Seasonal travel and school fees: Demand for foreign exchange usually climbs in the final weeks of the year as people prepare for trips abroad and tuition payments.
- Portfolio outflows: October’s 1.2 percent depreciation to ₦1,346 was linked to stronger seasonal demand and outflows tied to foreign portfolio investment.
- A stronger dollar globally: The US dollar has held its gains against major currencies, which has fed into the naira’s November weakness.
External Reserves Still Give the CBN Room
The reserves remain the strongest argument against panic. Gross reserves stood at $54.93 billion on November 9, down $330 million from the $55.26 billion peak recorded on October 27. At the end of October they were $55.2 billion, and the year-to-date build-up reached $9.7 billion. That is about 15.8 months of merchandise import cover. The figure is also well above the $51.04 billion target the CBN set for the full year.
| Date | Gross external reserves |
|---|---|
| January 2, 2026 | $45.57 billion |
| July 9, 2026 | $52.73 billion |
| August 24, 2026 | $53.11 billion |
| October 27, 2026 | $55.26 billion (peak) |
| November 9, 2026 | $54.93 billion |
The reserves are not growing as fast as before. October’s addition was the smallest monthly gain of any month that grew this year. A buffer that big still gives the CBN capacity to step in if volatility gets out of hand.
How Much Is $1 to $10,000 in Naira Today?
These conversions use the Thursday NFEM close of ₦1,358.50 and a black-market selling rate of about ₦1,442.
| Dollar amount | At the official rate (₦) | At the black-market rate (₦) |
|---|---|---|
| $1 | 1,358.50 | 1,442 |
| $10 | 13,585 | 14,420 |
| $50 | 67,925 | 72,100 |
| $100 | 135,850 | 144,200 |
| $500 | 679,250 | 721,000 |
| $1,000 | 1,358,500 | 1,442,000 |
| $5,000 | 6,792,500 | 7,210,000 |
| $10,000 | 13,585,000 | 14,420,000 |
On a $1,000 transaction, the difference between the two markets is about ₦83,500.
Pound and Euro Against the Naira
| Currency | Official (CBN) | Black market |
|---|---|---|
| British pound | ₦1,791.44 | about ₦1,865 |
| Euro | not confirmed | ₦1,550 to ₦1,595 |
One aggregator listed the pound at ₦1,865 on the parallel market against an official ₦1,791.44. Euro quotes varied between dealers, so treat that range as indicative.
The Bigger Picture
The latest moves still sit inside a fairly narrow band. The naira has stayed within a few naira of ₦1,347 since the start of November. Earlier in the year, the official rate was quoted at ₦1,371.04 on a Friday in May, and it closed at ₦1,358.25 in mid-August. So the official window today is roughly where it was three months ago. The pressure is showing up more in the parallel market than in the interbank figures.
For ordinary Nigerians, the question is what this means in practice. Importers, students paying foreign fees and people planning December travel will feel the black-market premium most. Anyone with a legitimate need for dollars can still go through the official channels at banks, which are priced closer to the NFEM rate.
What to Watch Next
- The CBN’s Friday closing figure and Monday’s opening: They will show whether the ₦1,358 level held or the midweek weakness resumed.
- Weekly reserve data: Another dip below $54.9 billion would add to the pressure. A rebound would help calm it.
- Year-end demand: Dollar demand usually peaks in December, so the black-market premium may stay wide.
- Oil and capital flows: Both have supported the reserves all year and remain the biggest swing factors.
Dollar to Naira Today: Frequently Asked Questions
What is the dollar to naira rate today?
About ₦1,358 at the official NFEM, based on the latest CBN figures, and roughly ₦1,435 to ₦1,445 on the black market.
What is the CBN dollar rate today?
The CBN rate follows the NFEM weighted average, which stood at ₦1,358.34 in the latest data. The Friday close had not been confirmed at the time of writing.
Why is the black-market rate higher than the official rate?
Demand for dollars outside the banking system is high at year-end, and street dealers price in convenience, cash availability and risk. The premium is currently about ₦80 to ₦90 per dollar.
How much is $100 in naira today?
About ₦135,850 at the official rate and ₦144,200 on the street.
Will the naira get stronger next week?
No one can say for certain. Reserves are strong, but seasonal demand is heavy. The official window has stayed in a tight range, so sharp swings are less likely there than on the street.
Exchange rates change constantly and vary by dealer, city and transaction size. Confirm live quotes with your bank or a trusted bureau de change before you transact.
