The naira recorded a relatively narrow movement against the United States dollar on Tuesday, November 10, 2026, as the greenback traded at an average of ₦1,346.51 in the official market and between ₦1,410 and ₦1,430 in the parallel market.

Data from the Nigerian Foreign Exchange Market (NFEM) showed that the dollar fluctuated between ₦1,343.35 and ₦1,347.32 during early trading, indicating limited movement within the official window.

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The performance reflected the relative stability recorded in recent trading sessions, although the exchange rate remained subject to market demand and foreign currency supply.

In the parallel market, currency dealers quoted the dollar at between ₦1,410 and ₦1,430 for buying and selling transactions, with rates varying according to location and individual dealers.

The difference between the average official rate and parallel market quotations stood at approximately ₦63.49 to ₦83.49 per dollar.

The gap highlights the continuing disparity between Nigeria’s official foreign exchange market and informal currency trading channels.

Financial analysts have linked the difference partly to demand from small-scale importers and individuals who require immediate access to foreign currency but may be unable to obtain it through conventional banking channels.

They also identified foreign reserve levels, the Central Bank of Nigeria’s liquidity management measures and the settlement of international trade obligations as factors influencing broader exchange rate conditions.

The developments underscore the importance of foreign currency availability to businesses and individuals who depend on dollar-denominated transactions.