Latest Black Market Dollar to Naira Exchange Rate Today, Tuesday, November 3, 2026

The Dollar to Naira exchange rate in Nigeria’s black market stood at approximately N1,380 for buying and N1,395 for selling on Tuesday, November 3, 2026, as the naira traded under modest pressure against the United States dollar.

The latest parallel-market quotations indicate that the American currency remains more expensive than the official Nigerian Foreign Exchange Market (NFEM) rate with businesses and individuals continuing to monitor foreign exchange availability.

At the prevailing rates, Bureau De Change (BDC) operators buying dollars from Nigerians are offering approximately N1,380 per dollar, while customers purchasing the currency are paying around N1,395.

However, quotations differ across currency dealers and market trackers, with some sources reporting a selling rate of N1,390.

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

The indicative parallel-market exchange rates for Tuesday, November 3, 2026, are:

Based on these quotations, the following conversions apply:

• $100: N138,000 when selling and N139,500 when buying.
• $200: N276,000 when selling and N279,000 when buying.
• $500: N690,000 when selling and N697,500 when buying.
• $1,000: N1,380,000 when selling and N1,395,000 when buying.

The difference between the buying and selling rates stands at N15 per dollar. Actual transaction prices may vary depending on location, dealer and transaction size.

Naira Weakens Slightly Against the Dollar

The naira traded at a slightly weaker indicative level on Tuesday compared with the N1,375 buying and N1,390 selling rates used in Monday’s Investors King exchange rate update.

Based on those quotations, both rates increased by N5 per dollar, indicating a modest depreciation of the Nigerian currency.

However, the comparison involves different market sources and should not be interpreted as a uniform movement across all Bureau De Change operators.

For manufacturers and import-dependent businesses, a higher dollar exchange rate increases the naira cost of imported raw materials, equipment and finished goods.

Companies with substantial foreign currency payment obligations may experience additional pressure on operating costs, particularly when exchange rate increases are sustained.

Individuals paying overseas tuition fees, medical bills and travel expenses are also affected because a higher selling rate increases the amount of naira required to purchase dollars.

The naira’s performance in the parallel market will continue to depend on the balance between demand for foreign currency and available supply.

Official Dollar to Naira Exchange Rate

At the official Nigerian Foreign Exchange Market, the naira recorded a volume-weighted reference rate of approximately N1,347.94 per US dollar on Monday, November 2, 2026, while the reported closing rate stood at N1,346.01.

The official reference rate was slightly weaker than the N1,346.26 recorded on Friday, October 30, representing a depreciation of approximately N1.69 per dollar.

However, the closing rate remained almost unchanged from Friday’s N1,346, indicating that the currency ended Monday’s trading close to its previous closing level.

Using Monday’s official closing rate of N1,346.01 and Tuesday’s indicative parallel-market selling rate of N1,395, the difference between the two markets stands at approximately N48.99 per dollar, equivalent to 3.64% of the official closing rate.

The comparison uses Monday’s official closing figure rather than a confirmed closing rate for Tuesday’s trading session.

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

Factors Influencing Dollar to Naira Exchange Rate

Several developments continue to shape Nigeria’s foreign exchange market.

Foreign Exchange Liquidity: The availability of dollars through banks, authorised dealers and other market channels influences exchange rate stability. Increased supply can reduce 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 whether foreign exchange inflows are sufficient to meet demand from businesses and individuals.

Improved dollar liquidity, stronger export earnings and sustained foreign investment could provide additional support for the Nigerian currency.

However, increased demand for imported goods, international travel and other overseas payment obligations could maintain pressure on the parallel market.

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.