As of Wednesday, November 11, 2026, the dollar to naira today trades at N1,350.86 on the official CBN/Nigerian Foreign Exchange Market (NFEM) window, while the parallel market sells dollars between N1,420 and N1,430, according to data from AbokiForex and parallel market operators across Lagos, Abuja, and Kano. The gap between the two rates sits at roughly N69 to N79 per dollar, or about 5.1% to 5.9%, underscoring the dual-rate reality that every Nigerian business owner and importer must navigate when pricing goods or settling overseas suppliers.
Official CBN Rate Today
The Central Bank of Nigeria’s most recent published NFEM rate stands at N1,350.86 per US dollar, reflecting trading data from Tuesday, November 10, 2026. The CBN’s own exchange rate table quotes a buying rate of N1,349.85 and a selling rate of N1,350.85. Wednesday’s NFEM volume-weighted average had not been published at the time of this report, so Tuesday’s close remains the latest verified official figure.
The NFEM rate is not an administratively set peg. It is a volume-weighted average of all interbank trades executed through the FMDQ Securities Exchange platform on a given business day. The CBN publishes this rate daily on its official exchange rates page, alongside a separate closing rate that can differ slightly. For businesses importing goods through formal banking channels, the NFEM rate is the benchmark your bank uses when processing letters of credit and Form M applications.
According to data tracked by NairaTodayRates, the official rate moved from N1,346.79 on November 6 to N1,349.34 on November 9, and then to N1,350.86 on November 10. That is a week-over-week depreciation of roughly N4 per dollar on the official window, a modest movement by recent standards but one that compounds over large import volumes.
Parallel Market Rate
The parallel market, where most small and medium-scale importers actually source dollars, is quoting a buying rate of N1,420 and a selling rate of N1,430 per dollar as of November 11, 2026, per AbokiForex. The Daily Post reported that the street rate appreciated slightly to N1,421 on Tuesday, November 10, from N1,425 on Monday, suggesting some easing of demand pressure at the start of the week.
These figures are indicative averages aggregated from Bureau De Change operators across Lagos, Abuja, Kano, and Port Harcourt. The rate a specific dealer offers you will depend on your location, transaction volume, and the condition of your dollar bills. A dealer in Lagos Island may quote N5 to N10 below a dealer in Kano’s Wapa market on the same day. For a deeper breakdown of how BDC operators actually set these rates, our analysis of how street rates are determined walks through the morning bidding process, location-based pricing differences, and negotiation tactics.
The practical cost difference between the two windows is significant. An importer needing $100,000 for a container settlement would pay approximately N135.09 million at the official rate but N143 million at the street sell rate, a gap of nearly N8 million before shipping, insurance, and customs duties are factored in. That spread is the single biggest variable in the landed cost of imported goods, and it is why tracking both rates daily matters for pricing decisions.
| Rate Type | Buy (₦/$) | Sell (₦/$) | Source |
|---|---|---|---|
| CBN Official (NFEM) | 1,349.85 | 1,350.85 | CBN exchange rate table, Nov 10 |
| Parallel Market | 1,420 | 1,430 | AbokiForex, Nov 11 |
| Gap (Premium) | N70.15 | N79.15 | 5.2% to 5.9% |
Sources: Central Bank of Nigeria official rates page; AbokiForex rate tracker. Parallel market rates are indicative and may vary by location and dealer. Always confirm with your BDC operator before transacting.
What Moved the Rate This Week
Three forces shaped the naira’s movement this week: a sharp drop in dollar trading volume, a modest CBN intervention that failed to reverse the slide, and weakening forward rates that signal market expectations of further depreciation.
FX Turnover Plunged 51%
According to Nairametrics, citing the latest FMDQ report, the total value of dollars traded in Nigeria’s foreign exchange market fell by 51.29% to $1.81 billion in the week ended November 6, down from $3.71 billion the previous week. Average daily turnover dropped to $361.67 million from $742.51 million. When fewer dollars change hands, each dollar commands a higher price, and that is exactly what happened on the parallel market, where the sell rate climbed from the N1,390s to the N1,420s over the same period.
CBN’s $50 Million Intervention
The Central Bank injected $50 million into the FX market during the week, but the naira still depreciated by approximately 0.1% week-on-week to close at N1,349 per dollar. The Government and Business Journal reported that Nigeria’s gross external reserves also declined by $106.87 million to $55.13 billion as of November 5. The intervention was too small relative to the demand backlog to move the needle, particularly when turnover was already contracting sharply.
Forward Rates Weakened Across All Tenors
Forward exchange rates, which reflect what banks and corporate clients expect the naira to be worth in the future, moved against the naira across every reported maturity. The one-month forward rate weakened by 0.2% to N1,370.19 per dollar, the three-month rate to N1,405.78, the six-month rate to N1,455.88, and the one-year forward rate declined by 0.6% to N1,557.65. When forward rates are rising, it means market participants are pricing in further naira weakness, which encourages dollar hoarding and deepens the supply shortage on the street.
What Analysts Expect Next
Cordros Securities expects the naira to remain broadly stable around current levels in the near term, citing Nigeria’s foreign exchange reserves and continued current account surplus. However, the firm warned that lower domestic yields or tighter global financial conditions could weigh on portfolio investment flows. Cowry Asset Management similarly expects trading within a relatively stable band but identified sustained dollar demand, seasonal payment obligations, and crude oil prices as factors that could limit further naira appreciation. For context on why the naira has struggled to gain despite policy reforms, the NARTO president’s explanation of how reduced petroleum import demand affects FX dynamics is worth reviewing.
Dollar to Naira: 7-Day Trend
The table below tracks the official NFEM rate and the parallel market sell rate over the past seven trading days. The official rate moved within a narrow band of N1,346.79 to N1,350.86, a range of just N4.07. The parallel market was far more volatile, swinging between N1,415 and N1,430. The gap between the two windows fluctuated between N68 and N79 per dollar, widening most sharply on November 10 when the official rate ticked up but the street rate climbed faster.
| Date (Nov 2026) | NFEM Official (₦/$) | Parallel Sell (₦/$) | Gap (₦) | Premium |
|---|---|---|---|---|
| Nov 4 (Wed) | 1,347.80 | 1,425 | 77.20 | 5.7% |
| Nov 5 (Thu) | 1,348.74 | 1,425 | 76.26 | 5.7% |
| Nov 6 (Fri) | 1,346.79 | 1,415 | 68.21 | 5.1% |
| Nov 9 (Mon) | 1,349.34 | 1,425 | 75.66 | 5.6% |
| Nov 10 (Tue) | 1,350.86 | 1,430 | 79.14 | 5.9% |
| Nov 11 (Wed) | 1,350.86* | 1,430 | 79.14 | 5.9% |
Sources: NFEM official rates via CBN and NairaTodayRates; parallel market sell rates via AbokiForex, Tribune Online, and Daily Post. The November 11 NFEM rate marked with an asterisk reflects Tuesday’s published close, as Wednesday’s volume-weighted average had not been released at the time of this report. NFEM does not publish rates on weekends.
The trend reveals a clear pattern: the official window is stable but slow-moving, while the parallel market reacts quickly to supply shocks. The 51% drop in weekly FX turnover hit the street rate almost immediately, pushing it from the N1,415 range to N1,430 within two trading sessions. For businesses that source dollars outside the banking system, this volatility is the real exchange rate risk, not the gentle N4 drift on the official window.
Headline Hubs will continue tracking these rates daily. For business owners and importers, the key takeaway is simple: monitor both windows, price your goods at the rate you actually pay (not the official rate your bank quotes), and build a margin buffer for the N70 to N80 premium that currently separates the two markets.
Frequently Asked Questions
What is the dollar to naira rate today on the official market?
As of November 11, 2026, the most recent published NFEM rate from the CBN is N1,350.86 per US dollar, reflecting trading data from Tuesday, November 10. The CBN’s buying rate is N1,349.85 and the selling rate is N1,350.85. Wednesday’s NFEM volume-weighted average had not been published at the time of this report.
What is the dollar to naira black market rate today?
As of November 11, 2026, the parallel market is quoting a buying rate of N1,420 and a selling rate of N1,430 per dollar, according to AbokiForex. Rates vary by location and dealer, so always confirm with your BDC operator before transacting.
Why is the parallel market rate higher than the official CBN rate?
The gap exists because the official NFEM window cannot absorb all dollar demand. When FX turnover drops, as it did by 51% in the week ended November 6, the reduced supply pushes street rates higher. Speculation, dollar hoarding, and seasonal demand spikes also widen the premium.
What moved the naira exchange rate this week?
Three factors: FX trading volume plunged 51% to $1.81 billion, the CBN’s $50 million intervention was too small to reverse the slide, and forward rates weakened across all tenors, signaling market expectations of further naira depreciation.
Where can I check the official CBN exchange rate daily?
The CBN publishes the NFEM rate daily on its official exchange rates page at cbn.gov.ng. The rate is a volume-weighted average of interbank trades executed through the FMDQ Securities Exchange platform, not an administratively set peg.