The naira slipped slightly in November's first week, as dollar trading slowed
The official rate moved from ₦1,346 to ₦1,349 to the dollar over the week. Turnover in the official market fell to about $1.45 billion in four days.
In 30 seconds
- The naira closed Friday at ₦1,349 to the dollar in the official market (NFEM), about 0.22 per cent weaker than ₦1,346 a week earlier, Nairametrics reported from CBN data.
- Its weakest close of the week was ₦1,350.45 on Thursday.
- Official market turnover was about $1.45 billion from Monday to Thursday, Nairametrics said. The CBN had not published Friday's total.
- On the street, dealers quoted about ₦1,372 to ₦1,400 on Friday, depending on the outlet.
The naira lost a little ground against the dollar in the first week of November. It was not a big move, but it ran the same way all week until Friday.
The week, day by day
These are closing rates in the official market, as reported by Nairametrics from CBN data:
- Friday, 30 October: ₦1,346
- Tuesday, 3 November: ₦1,347.75
- Wednesday, 4 November: ₦1,348
- Thursday, 5 November: ₦1,350.45
- Friday, 6 November: ₦1,349
That is a fall of about 0.22 per cent over the week. The naira's best level during the week was ₦1,344 and its worst ₦1,353, Nairametrics said.
Arbiterz, also citing CBN data, gives the same ₦1,350.45 for Thursday. Some outlets, including Techeconomy and Vanguard, reported ₦1,348.74 for Thursday instead. We use ₦1,350.45, which two outlets citing CBN figures agree on.
Less trading
Dollars traded in the official market from Monday to Thursday came to about $1.45 billion, according to Nairametrics: $227.18 million on Monday, $404.11 million on Tuesday, $434.54 million on Wednesday and $380.57 million on Thursday. The CBN had not published Friday's total when Nairametrics reported.
That is far below a single day in late October, when turnover reached about $3.24 billion on 23 October, the outlet said.
The street rate
Street dealers charged more. Arbiterz reported ₦1,372 at bureaux de change on Friday. Techeconomy and Vanguard put the parallel rate at about ₦1,400. Quotes on the street vary by city and dealer, so treat these as a rough guide.
Nigeria's gross foreign reserves were $55.138 billion on 4 November, Arbiterz reported from CBN data, almost unchanged from the day before.
What it means for you
A move of ₦3 to the dollar will not change your fuel price on its own. But petrol, diesel, cooking gas and power equipment are all priced from dollars, so a steady slide over many weeks does feed into what you pay. If you need dollars for school fees or imports, the gap between the official and street rate is the number to watch. Why the official and street rates differ, simply.
Words to know
- NFEM
- The Nigerian Foreign Exchange Market, the official market where banks and big firms trade dollars. The CBN publishes its rates.
- Turnover
- The total value of dollars bought and sold in a period.
- Parallel market
- Street or bureau de change dealers outside the official market.
Sources
- Nairametrics: Naira weakens 0.22% as FX turnover slows to $1.45 billion in November's first week (7 Nov 2026)
- Arbiterz: Naira-dollar rate (6 Nov 2026), NAFEM rate weakens to ₦1,350.45
- Techeconomy: Dollar trades at ₦1,400 on parallel market (6 Nov 2026)
- Vanguard: Dollar to naira exchange rate today, 6 November 2026
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