ABUJA, Nigeria – November 3, 2026
The Nigerian naira recorded mixed movements against major international currencies on Tuesday as traders and Bureau De Change operators quoted varying exchange rates across the foreign exchange market.
The US dollar was quoted at approximately ₦1,346.01 at the official market, while it sold for about ₦1,392.28 at the parallel market.
The British pound exchanged at approximately ₦1,804.94 at the official market and ₦1,853.11 at the parallel market. Meanwhile, the euro traded at ₦1,506.84 officially and ₦1,527.14 on the parallel market.
Today’s Exchange Rates
As of Tuesday, November 3, 2026, the indicative rates are:
| Currency | Official Rate | Parallel Market Selling |
|---|---|---|
| US Dollar ($1) | ₦1,346.01 | ₦1,392.28 |
| British Pound (£1) | ₦1,804.94 | ₦1,853.11 |
| Euro (€1) | ₦1,506.84 | ₦1,527.14 |
| Canadian Dollar (C$1) | ₦962.75 | ₦1,001.12 |
Dollar-to-Naira Conversion
At the parallel market selling rate of ₦1,392.28 per dollar:
- $10 = ₦13,922.80
- $50 = ₦69,614
- $100 = ₦139,228
- $200 = ₦278,456
- $500 = ₦696,140
- $1,000 = ₦1,392,280
What Is Driving the Exchange Rate?
Market analysts continue to monitor foreign exchange liquidity, dollar demand, foreign investment inflows and the Central Bank of Nigeria’s monetary policy measures.
The movement of the naira remains important to businesses and consumers, particularly importers and Nigerians making international payments.
A stronger supply of foreign currency could help ease pressure on the naira, while increased demand for dollars may contribute to further fluctuations.
Outlook
The outlook for the naira will depend largely on foreign exchange availability, crude oil earnings, investor confidence and the CBN’s efforts to maintain stability in the currency market.
Nigerians are advised to confirm prevailing rates with authorised dealers before conducting foreign exchange transactions, as parallel-market prices may vary by location and change throughout the day.
Report by Infoland.ng
