Dollar to Naira Today: Black Market Exchange Rate — Wednesday, November 11, 2026

The Dollar to Naira exchange rate in Nigeria’s black market stood at approximately N1,411 for buying and N1,419 for selling on Wednesday, November 11, 2026, as the naira continued to face pressure against the United States dollar.

The latest parallel-market quotations indicate that the dollar is trading above N1,400 among some Bureau De Change (BDC) operators, although exchange rates remain inconsistent across dealers and market trackers.

While some sources reported a selling rate of N1,419, others quoted between N1,390 and N1,430, reflecting differences in foreign currency availability, location and transaction size.

The naira also weakened slightly in the official Nigerian Foreign Exchange Market (NFEM) during Tuesday’s trading session.

The indicative parallel-market exchange rates for Wednesday, November 11, 2026, are:

Based on these quotations, the following conversions apply:

The difference between the buying and selling rates stands at N8 per dollar.

These figures are indicative and may differ from actual transaction prices offered by individual currency dealers.

The naira opened Wednesday with mixed indications across Nigeria’s parallel foreign exchange market.

Compared with the N1,410 buying and N1,430 selling quotations reported in Tuesday’s Investors King update, Wednesday’s indicative rates suggest a marginal increase of N1 in the buying rate and an N11 decline in the selling rate.

However, the comparison involves different reporting sources and does not establish a uniform appreciation across all currency dealers.

Some market trackers continue to report selling rates as high as N1,430, indicating that the cost of purchasing dollars remains elevated in parts of the informal market.

For manufacturers and importers, these differences have direct financial implications.

A company purchasing $50,000 at N1,419 would require N70.95 million, compared with N71.5 million at N1,430.

The N550,000 difference demonstrates how variations in foreign exchange quotations can influence procurement costs, particularly for businesses handling substantial international payments.

For individuals paying overseas tuition fees, medical expenses and travel costs, the selling rate remains the most relevant measure because it determines how much naira is required to purchase dollars.

At the official Nigerian Foreign Exchange Market, the naira reportedly closed at approximately N1,350.86 per US dollar on Tuesday, November 10, 2026, compared with N1,349.34 recorded on Monday.

The movement represents a depreciation of N1.52 per dollar, equivalent to approximately 0.11%.

The latest official quotation suggests that the naira has weakened modestly since the beginning of the week, although the movement remains smaller than the differences observed across parallel-market quotations.

Using Tuesday’s official closing rate of N1,350.86 and Wednesday’s indicative parallel-market selling rate of N1,419, the difference between the two markets stands at approximately N68.14 per dollar, equivalent to 5.04% of the official rate.

At a parallel-market selling rate of N1,430, the difference would increase to N79.14 per dollar, or approximately 5.86%.

The comparison uses Tuesday’s official closing rate because Wednesday’s final trading-session figures were not yet available at the time of reporting.

The Central Bank of Nigeria (CBN) publishes official foreign exchange market data used by banks, businesses and investors.

Nigeria’s foreign exchange market continues to respond to developments in dollar liquidity, import demand and foreign currency inflows.

Crude oil export earnings remain an important source of foreign exchange, while diaspora remittances and foreign investment contribute additional dollar supply.

On the demand side, manufacturers and importers require foreign currency to purchase raw materials, machinery and finished products.

International education, medical expenses, travel and other overseas financial obligations also generate demand for dollars.

The difference between official and parallel-market exchange rates is particularly important because it can affect the cost of foreign currency transactions and the incentives facing market participants.

However, differences between quoted rates do not necessarily indicate that every dealer is experiencing the same level of demand or liquidity pressure.

The naira’s near-term direction will depend on whether foreign exchange inflows are sufficient to meet demand from businesses and individuals.

Improved dollar liquidity, stronger export receipts and sustained foreign investment could support the currency and reduce pressure across the foreign exchange market.

Conversely, increased import-related payments and other international obligations could weaken the naira if demand rises faster than available supply.

For investors and businesses, developments in official NFEM trading, foreign exchange turnover and Nigeria’s external reserves will remain important indicators of currency market stability.

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