The exchange rate between the US dollar and the Nigerian naira remains a major concern for businesses, importers, travellers and Nigerians who depend on foreign currency for international transactions.
As of Wednesday, November 4, 2026, available market data put the official dollar exchange rate at approximately ₦1,346 to ₦1,347 per dollar, while the parallel market rate was around ₦1,380 to ₦1,390 per dollar, depending on the dealer and location.
Official Dollar to Naira Rate
The Nigerian Foreign Exchange Market (NFEM), which provides the benchmark for official foreign exchange transactions, recorded an average rate of ₦1,346.26 per dollar in its latest available data for Friday, October 30.
Official rates can change on trading days, so customers are advised to confirm the latest figures with their banks or the Central Bank of Nigeria.
Black Market Dollar to Naira Rate
In the parallel market, commonly called the black market, the dollar was being quoted at approximately:
- Buying rate: ₦1,380 per dollar
- Selling rate: ₦1,390 per dollar
These figures are indicative and may vary across cities and individual Bureau de Change operators.
How Much Is the Dollar Worth in Naira Today?
Using the indicative rates above, the conversions are as follows:
| US Dollar | Official rate (₦1,346.26) | Parallel selling rate (₦1,390) |
|---|---|---|
| $100 | ₦134,626 | ₦139,000 |
| $500 | ₦673,130 | ₦695,000 |
| $1,000 | ₦1,346,260 | ₦1,390,000 |
| $5,000 | ₦6,731,300 | ₦6,950,000 |
| $10,000 | ₦13,462,600 | ₦13,900,000 |
Why the Exchange Rate Matters
Changes in the dollar-to-naira rate affect the cost of imported goods, international payments, travel expenses and business operations. A higher dollar rate generally means that Nigerians need more naira to purchase the same amount of foreign currency.
Exchange rates are subject to fluctuations, and the amount ultimately paid may differ depending on the transaction, provider and applicable charges.
Nigerians are encouraged to verify rates before making foreign exchange transactions.
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