The Nigerian naira traded with modest movements across both official and parallel foreign exchange markets on Tuesday, November 10, 2026, as market participants weighed ongoing liquidity management by the Central Bank of Nigeria against persistent demand for foreign currency.
At the official Nigerian Foreign Exchange Market (NFEM), the United States dollar exchanged at an average rate of ₦1,346.51. The official window recorded early trading activity holding within a narrow band between ₦1,343.35 and ₦1,347.32 per dollar, maintaining the relative stability seen over recent trading sessions.
Meanwhile, activities in the parallel market showed the dollar trading between ₦1,410 and ₦1,430 for buying and selling transactions depending on location and local currency dealer. The figures reflect an unofficial market premium of approximately ₦64 to ₦83 per dollar over the NFEM spot rate.
Financial analysts note that the mild divergence between official rate outcomes and informal channels continues to reflect spot demand from small-scale importers and individual retail buyers seeking prompt foreign currency access outside primary banking channels. Overall market conditions remain anchored by broader foreign reserve levels and regular clearing of foreign trade obligations.