On Monday, November 9 2026, Nigeria’s official dollar‑to‑naira exchange rate closed at approximately ₦1,346.79 per US dollar, while the parallel market quoted the currency between ₦1,415 and ₦1,430, according to a Vanguard News report.
The official rate is set on the Nigerian Foreign Exchange Market (NFEM), the government‑sanctioned platform for foreign‑currency transactions. The figure of ₦1,346.79 reflects the NFEM closing price based on market data from November 6, published by the Central Bank of Nigeria (CBN).
In the parallel market, which serves as an alternative source of dollars for individuals and businesses, dealers listed the dollar at a range of ₦1,415‑₦1,430, depending on the dealer and location. This creates a spread of roughly ₦68‑₦83 per dollar between the official and parallel rates.
Vanguard notes that parallel‑market quotes are indicative and can fluctuate throughout the day as supply and demand for dollars shift.
The dollar‑to‑naira rate remains a critical barometer for Nigerian businesses, importers and the broader public, who monitor foreign‑exchange developments closely. Nigeria, Africa’s most populous nation, relies heavily on stable currency dynamics to manage trade and inflation pressures.
<small>Source: Vanguard News — read the original story there.</small>