The naira is trading at different rates against the US dollar across Nigeria’s official and parallel foreign exchange markets on Thursday, November 5, 2026.
In the official Nigerian Foreign Exchange Market (NFEM), the dollar is valued at approximately ₦1,347.30, based on the latest reported official rate.
At the parallel market, Bureau De Change (BDC) operators are buying the dollar at approximately ₦1,380 and selling at ₦1,390.
The figures indicate that Nigerians buying dollars through the parallel market are paying more than those accessing foreign exchange through the official window.
The difference between the official rate and the parallel market selling rate is approximately ₦42.70 per dollar.
Exchange rates fluctuate depending on dollar supply, demand, market liquidity and trading activities. The parallel market rate may also vary across locations and individual currency dealers.
Nigerians seeking foreign exchange for international travel, school fees, business transactions and other payments are advised to confirm prevailing rates with their banks and licensed Bureau De Change operators before completing transactions.
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