SNOW TV NEWS DESK
The exchange rate between the US dollar and the Nigerian naira remains a major concern for businesses, importers, and individuals seeking foreign currency for their daily transactions on Wednesday, November 4, 2026.
The naira continues to trade at different rates across the Nigerian Foreign Exchange Market (NFEM) and the parallel market, reflecting variations in foreign exchange supply and demand.
As of Wednesday morning, the dollar is exchanging at approximately ₦1,380 for buying and ₦1,390 for selling in the parallel market. Meanwhile, the latest available official NFEM rate, published on November 3, stands at approximately ₦1,346.43 per dollar.
Rates offered by Bureau De Change (BDC) operators may vary depending on location, dollar availability, and transaction volume. Consequently, parallel-market quotations should be regarded as indicative rather than fixed rates.
At the prevailing figures, $100 is worth approximately ₦134,643 at the official exchange rate, compared with ₦139,000 at the parallel-market selling rate.
This represents a difference of about ₦43.57 per dollar between the official and parallel-market selling rates.
The naira’s movement in the official market continues to depend on several factors, including foreign exchange supply, importers’ demand for dollars, and overall market liquidity.
Nigerians are advised to verify current exchange rates with their banks and authorized Bureau De Change operators before carrying out foreign currency transactions, as rates may change throughout the day.
SNOW TV EDITORIAL ANALYSIS
What the Exchange Rate Means for Nigerians
The difference between the official and parallel-market rates highlights the continuing challenges in Nigeria’s foreign exchange market. Although the official rate is relatively lower, the higher parallel-market quotation suggests that access to foreign currency remains an important concern for some individuals and businesses.
For import-dependent businesses, even a modest exchange-rate difference can increase operating costs, potentially leading to higher prices for goods and services. Consumers may also feel the impact through rising import-related expenses.
Ultimately, improving foreign exchange liquidity, strengthening confidence in the official market, and ensuring consistent dollar supply will be essential to achieving greater exchange-rate stability. For now, Nigerians should monitor market developments closely and rely on verified rates when making financial decisions.
“Sir Bartholomew White Ebe is a Lagos-based media personality, Music Artist, Producer, and a Relationship Coach and independent journalist. With over seven years of experience tracking political developments and cultural shifts in Nigeria, he specializes in local current affairs, grassroots politics, and community-driven reporting across Lagos State. As the founder and chief editor of Snow Multimedia Connect {SNOW TV}, he leads the editorial team to deliver verified, high-impact stories to digital audiences.”
Email: snowmediaconnect@gmail.com
