Enugu Media Village (EMV), the Most Updated Online News Platform — November 10, 2026.
THE NIGERIAN NAIRA traded at an average of ₦1,346.51 per United States dollar at the official foreign exchange market on Tuesday, November 10, 2026, while the dollar exchanged for as much as ₦1,430 in the parallel market.
Latest figures from the Nigerian Foreign Exchange Market (NFEM) showed that the dollar traded between ₦1,343.35 and ₦1,347.32, with an average rate of ₦1,346.51.
In the parallel market, popularly known as the black market, currency dealers bought and sold the dollar at rates ranging between ₦1,410 and ₦1,430, depending on location and individual dealers.
The parallel market rates represent a premium of approximately ₦64 to ₦83 per dollar above the official market average, highlighting the continued disparity between the two foreign exchange markets.
Financial analysts attributed the difference partly to sustained demand for foreign currencies among small-scale importers and individuals seeking immediate access to dollars outside conventional banking channels.
They also noted that the naira’s performance remains influenced by several factors, including the Central Bank of Nigeria’s liquidity management policies, the country’s foreign reserves and the settlement of international trade obligations.
Despite the relative stability recorded in the official market, the higher parallel market rates indicate that foreign exchange demand continues to exert pressure on the local currency.
The exchange rates remain important indicators for businesses, importers, investors and Nigerians involved in international transactions.
Note: Exchange rates fluctuate and may vary across banks, authorised foreign exchange dealers and parallel market operators. Readers are advised to confirm prevailing rates before conducting transactions.
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