The naira is trading at different rates against the US dollar across Nigeria’s official and parallel foreign exchange markets on Wednesday, November 4, 2026, with the black-market selling rate standing at approximately N1,390 per dollar.
Latest: Dollar to naira today: official and black market rates (live tracker)
Key Highlights
- Black market (BDC) operators buy the dollar at about N1,380 and sell at N1,390.
- The official NFEM rate is approximately N1,346.43 per dollar.
- The gap between the official and parallel-market selling rates is N43.57 per dollar.
- $1,000 is worth about N1,346,430 officially and N1,390,000 in the black market.
- On Tuesday, the naira firmed slightly to N1,374 in the parallel market but weakened to N1,347.75 at the official window.
The latest figures show that bureau de change operators are buying the dollar at about N1,380 and selling at N1,390, while the official Nigerian Foreign Exchange Market (NFEM) rate is approximately N1,346.43 per dollar.
The figures indicate that Nigerians sourcing dollars through the parallel market are paying more than those accessing foreign exchange through the official window.
How much is $100, $500 and $1,000 in naira today?
At the official rate of N1,346.43, $100 is worth approximately N134,643, while the same amount costs about N139,000 at the parallel-market selling rate.
Similarly, $500 translates to approximately N673,215 at the official rate and N695,000 in the black market.
For those exchanging $1,000, the amount is worth approximately N1,346,430 at the official market rate and N1,390,000 at the parallel-market selling rate.
The difference between the two selling rates is N43.57 per dollar, highlighting the continued disparity between Nigeria’s foreign exchange markets.
What drives the rates
The parallel-market rates are indicative and may vary depending on location, availability of foreign currency, transaction volume and individual currency dealers.
Meanwhile, the official exchange rate is influenced by foreign exchange supply and demand, market liquidity and transactions involving authorised participants in the window overseen by the Central Bank of Nigeria.
The latest figures come a day after the naira recorded a slight appreciation in the parallel market, exchanging at N1,374 per dollar on Tuesday, compared with N1,377 on Monday.
However, the currency weakened at the official market on Tuesday, with the exchange rate moving to N1,347.75 per dollar from N1,346.01.
Read also:
- Dollar To Naira Exchange Rate Today, November 2, 2026: Naira Trades At ₦1,346/$1
- Naira to Dollar Exchange Rate Today, October 31, 2026: Black Market Rate Hits ₦1,384/$
- Naira Trades At ₦1,346/$ As Gap Between Official, Black Market Rates Widens
Nigerians who need foreign currency for international travel, school fees, imports and other payments are advised to confirm prevailing rates with their banks and authorised bureau de change operators before carrying out transactions, as exchange rates can change during the trading day.
For daily exchange rate updates and more business news, follow us on X.
