The US dollar exchanged for about ₦1,390 in the parallel market on Wednesday, November 4, 2026, while the official foreign exchange market rate stood at approximately ₦1,346.43 per dollar, according to the latest available figures.
In the parallel market, Bureau De Change operators quoted the dollar at about ₦1,380 for buying and ₦1,390 for selling, although rates varied depending on location, availability and transaction volume.
At the official rate, $100 was equivalent to approximately ₦134,643, compared with ₦139,000 at the parallel-market selling rate.
The figures represent a difference of about ₦43.57 per dollar between the official and parallel-market selling rates.
The official rate was based on the latest reported Nigerian Foreign Exchange Market (NFEM) publication for Tuesday, November 3.
The naira’s performance in the official market continues to be influenced by foreign exchange supply, demand from importers and other market participants, as well as liquidity conditions.
Meanwhile, the parallel-market rate remains subject to fluctuations driven by demand and supply among independent currency dealers.
Nigerians seeking to conduct foreign exchange transactions have been advised to confirm prevailing rates with their banks and authorised Bureau De Change operators, as rates may change during the day.