Naira Weakens Against Dollar at Official and Parallel Markets

The Nigerian naira lost further ground against the United States dollar at the official foreign exchange market on Wednesday, November 4, 2026, closing at N1,348.00 per dollar.

Data published on the Central Bank of Nigeria (CBN) website showed that the currency traded at N1,347.7983 per dollar at the Nigerian Foreign Exchange Market (NFEM) before closing at N1,348.00.

The latest naira-to-dollar exchange rate represents a decline from the N1,347.9435 recorded on Tuesday, November 3. This means the naira weakened by about N0.86 against the dollar during Wednesday’s trading.

The currency also recorded increases in both buying and selling rates at the parallel market.

According to Aboki FX, the black-market buying rate rose by N10, while the selling rate increased by N20 compared with the previous trading session on Tuesday.

The movement highlights continued pressure on the naira across Nigeria’s foreign exchange markets. Traders and businesses will be watching developments at both the official and parallel markets for further changes in the dollar exchange rate.