Naira Falls to N1,445/$ in Parallel Market Amid Demand

On November 12, 2026, the naira weakened to N1,445 per dollar in the parallel market, a decline from N1,430 the previous day. This change widened the gap between the informal and official exchange rates to N86.50.

Bureau de Change operators in Abuja reported this rate, indicating renewed pressure in the parallel market. Conversely, the official exchange rate at the Nigerian Foreign Exchange Market closed at N1,358.50 per dollar, showing a 0.37% appreciation from N1,364 in the prior session.

The official market's rates fluctuated between N1,348 and N1,363.75 during the trading session. The widening gap is attributed to increased demand in the informal market, particularly ahead of the festive season.

Factors such as fiscal leakages, speculation, and arbitrage activities have previously contributed to the volatility in the parallel market. Additionally, Nigeria's net foreign exchange reserves reached a record $46 billion, up from $34.80 billion at the end of 2025.