The naira traded at approximately ₦1,347.44 per dollar at the Nigerian Foreign Exchange Market, while the United States dollar sold for about ₦1,395 on the parallel market on Tuesday, November 3, 2026.

The figures indicate a difference of approximately ₦47.56 between the official and parallel-market selling rates, reflecting the variation in prices across Nigeria’s foreign exchange markets.

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At the parallel market, Bureau de Change operators quoted the dollar at about ₦1,380 for buying and ₦1,395 for selling.

The buying rate represents the amount dealers pay customers exchanging dollars for naira, while the selling rate is what customers pay when purchasing the foreign currency.

Based on the reported rates, $100 would exchange for approximately ₦134,744 at the official market.

However, purchasing the same amount at the parallel-market selling rate would cost about ₦139,500, representing a difference of approximately ₦4,756.

The official NFEM figure represents the latest available market quotation, while parallel-market rates may vary depending on location, dollar availability and individual currency dealers.

The difference between the two rates is important for individuals and businesses that require foreign currency for transactions such as international payments, travel and imports.

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Nigerians planning foreign exchange transactions have been advised to confirm prevailing rates with authorised dealers before buying or selling dollars, as market prices may change.