By Temidire Adefolarin
The Nigerian naira is facing different valuation levels across the country's foreign exchange markets, with the US dollar selling for approximately ₦1,390 on the parallel market on Thursday, November 5, 2026.
Figures from the official Nigerian Foreign Exchange Market (NFEM) put the dollar at about ₦1,347.30, while Bureau De Change (BDC) operators are buying the greenback at approximately ₦1,380 and selling at ₦1,390.
The latest figures show that individuals and businesses sourcing dollars through the informal market are paying more than those accessing foreign exchange through the official trading window.
The difference between the official market rate and the parallel market selling price stands at approximately ₦42.70 for every dollar purchased.
This disparity highlights the continuing variation in foreign exchange pricing across Nigeria's currency markets, with the cost of obtaining dollars influenced by availability, demand, liquidity and prevailing trading conditions.
The parallel market rate is not uniform nationwide, as individual dealers and locations may quote different prices depending on local demand and dollar supply.
Nigerians requiring foreign currency for overseas travel, educational expenses, international business transactions and other obligations have been advised to verify current rates with their banks and licensed Bureau De Change operators before exchanging money.
Exchange rates remain subject to fluctuations, meaning the quoted figures may change as trading activities and market conditions evolve.
Temidire Adefolarin
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