ABUJA, November 4, 2026 — The Nigerian naira traded at different rates against major international currencies on Wednesday, as the foreign exchange market continued to attract attention from businesses, investors and currency traders.
The US dollar exchanged at approximately ₦1,346.93 at the official market, while parallel-market dealers quoted the dollar at about ₦1,390.
The British pound and euro also maintained significant values against the naira, reflecting continued demand for foreign currencies.
Official and Parallel Market Exchange Rates
| Currency | Official Rate | Parallel Market |
|---|---|---|
| US Dollar ($1) | ₦1,346.93 | ₦1,390 |
| British Pound (£1) | ₦1,807.72 | ₦1,860 |
| Euro (€1) | ₦1,512.25 | ₦1,560 |
| Canadian Dollar (C$1) | ₦963.08 | ₦1,002 |
| UAE Dirham (AED1) | ₦359.15 | ₦370 |
| Chinese Yuan (¥1) | ₦201.92 | ₦210 |
| South African Rand (R1) | ₦81.37 | ₦80 |
Dollar-to-Naira Conversion
At the parallel-market selling rate of ₦1,390 per dollar:
- $10 = ₦13,900
- $50 = ₦69,500
- $100 = ₦139,000
- $200 = ₦278,000
- $500 = ₦695,000
- $1,000 = ₦1,390,000
Market participants say foreign exchange supply, demand, monetary policy and international trade activities remain key factors influencing the naira’s performance.
The exchange rate remains a major economic indicator, with movements affecting importation, business operations, travelling expenses and the prices of goods and services across Nigeria.
Note: Rates are indicative as of November 4, 2026, and may vary depending on location, dealer and transaction size. Official rates are based on published market figures, while parallel-market rates are indicative dealer quotations.
