LAGOS, November 2, 2026 – The Nigerian naira opened the new trading week with mixed performance against the United States dollar, as exchange rate movements continued to attract attention across the country’s foreign exchange market.
In the official Nigerian Foreign Exchange Market (NFEM), the dollar traded at an average rate of ₦1,346.26 on Friday, October 30, according to the latest available Central Bank of Nigeria (CBN) figures.
However, the parallel market recorded a higher dollar selling rate of approximately ₦1,391.83 on Monday morning, November 2, reflecting continued differences between the official and unofficial foreign exchange markets.
The latest parallel market figures indicate that currency dealers were buying the dollar at approximately ₦1,385.59 and selling at ₦1,391.83.
Dollar to Naira Exchange Rate Today
The indicative exchange rates as of Monday, November 2, 2026, are:
- Official market: ₦1,346.26/$
- Parallel market buying rate: ₦1,385.59/$
- Parallel market selling rate: ₦1,391.83/$
At the prevailing parallel market selling rate, $100 is approximately ₦139,183, while $500 is valued at about ₦695,915.
The gap between the official and parallel market rates highlights the differences in foreign exchange pricing and availability.
Market watchers say currency movements will remain important for importers, manufacturers, international travellers and businesses with foreign currency obligations.
The naira’s performance is also expected to influence import costs, business operations and the prices of goods and services across the country.
Nigerians seeking foreign exchange are advised to confirm prevailing rates with their banks and licensed Bureau de Change operators before conducting transactions, as rates may vary depending on location, demand and availability.
