Current Black Market Dollar To Naira Exchange Rate Today, Thursday, November 5, 2026

The Dollar to Naira exchange rate in Nigeria’s black market stood at approximately N1,380 for buying and N1,390 for selling on Thursday, November 5, 2026, as the naira maintained its recent trading range against the United States dollar.

The latest parallel-market quotations indicate that the Nigerian currency remained relatively stable despite continued demand for foreign exchange from importers, manufacturers and individuals making international payments.

At the prevailing rates, Bureau De Change (BDC) operators buying dollars from Nigerians are offering approximately N1,380 per dollar, while customers purchasing the American currency are paying around N1,390.

However, quotations may vary across dealers and trading locations, depending on dollar availability and transaction size.

How Much Is Dollar to Naira Today in the Black Market?

The indicative parallel-market exchange rates for Thursday, November 5, 2026, are:

Currency Buying Rate Selling Rate US Dollar (USD) N1,380 N1,390

Based on these quotations, the following conversions apply:

• $100: N138,000 when selling and N139,000 when buying.
• $200: N276,000 when selling and N278,000 when buying.
• $500: N690,000 when selling and N695,000 when buying.
• $1,000: N1,380,000 when selling and N1,390,000 when buying.

The difference between the buying and selling rates stands at N10 per dollar. Actual transaction prices may differ depending on the dealer, location and amount exchanged.

Naira Holds Steady as Official Market Rate Weakens

The naira maintained its position in the parallel market on Thursday, with indicative buying and selling rates unchanged from those reported in Wednesday’s Investors King exchange rate update.

However, the official foreign exchange market recorded a slight depreciation during Wednesday’s trading session.

The naira closed at approximately N1,348 per dollar on November 4, compared with N1,346 in the preceding session, representing a depreciation of N2.

The movement indicates that while parallel-market quotations remained stable, the official exchange rate experienced modest pressure.

For manufacturers and import-dependent businesses, exchange rate movements remain important because changes in the dollar’s value directly affect the naira cost of imported raw materials, machinery and finished goods.

Businesses purchasing foreign currency through authorised banking channels may experience changes in their import costs even when parallel-market quotations remain unchanged.

Similarly, Nigerians paying overseas tuition fees, medical bills and other international obligations remain sensitive to fluctuations in the dollar’s selling rate.

Official Dollar to Naira Exchange Rate

At the official Nigerian Foreign Exchange Market (NFEM), the naira recorded a volume-weighted reference rate of approximately N1,347.80 per US dollar on Wednesday, November 4, 2026, while the closing rate stood at N1,348.

The closing rate was N2 weaker than the N1,346 recorded in the preceding session.

Using Wednesday’s official closing rate of N1,348 and Thursday’s indicative parallel-market selling rate of N1,390, the difference between the two markets stands at N42 per dollar, equivalent to approximately 3.12% of the official closing rate.

The comparison uses Wednesday’s official closing figure because Thursday’s final trading-session rate was not yet available at the time of reporting.

The Central Bank of Nigeria (CBN) oversees Nigeria’s official foreign exchange framework and publishes market information used by financial institutions, businesses and investors.

Factors Influencing Dollar to Naira Exchange Rate

Several economic developments continue to influence the direction of Nigeria’s currency market.

Foreign Exchange Liquidity: The availability of dollars through banks, authorised dealers and other market channels remains important to exchange rate stability. Improved liquidity can ease pressure on the naira when demand remains moderate.

Crude Oil Export Earnings: Nigeria’s crude oil production, international oil prices and export receipts influence foreign currency inflows and the country’s external revenue position.

Import Demand: Manufacturers and importers require dollars to purchase machinery, raw materials and finished products, making international trade an important source of foreign exchange demand.

Foreign Investment: Portfolio investment and foreign direct investment contribute to dollar availability, while the repatriation of investment proceeds can increase demand for foreign currency.

Diaspora Remittances: Transfers from Nigerians living abroad provide additional foreign exchange inflows and support currency market liquidity.

Monetary Policy: Interest rate decisions, liquidity management and foreign exchange regulations implemented by the CBN influence investor expectations and financial market conditions.

Dollar to Naira Outlook

The naira’s performance in the coming trading sessions will depend largely on the balance between foreign exchange demand and available dollar supply.

Improved capital inflows, stronger export earnings and increased liquidity in the official market could provide additional support for the Nigerian currency.

However, renewed demand from importers, manufacturers and individuals making overseas payments could put pressure on exchange rates if dollar supply fails to keep pace.

Market participants will continue monitoring official exchange rate movements, Nigeria’s external reserves, crude oil prices and monetary policy developments for indications of the currency’s near-term direction.

For daily Dollar to Naira exchange rate updates, Nigerian business news, financial market developments and economic analysis, visit Investors King.

Source link