Dollar to Naira exchange rate today, November 12, 2026
AI Executive Briefing
Gemini Flash AI~45s readThe Nigerian naira is experiencing continued downward pressure across both official and parallel markets as of November 12, 2026. Despite the volatility, the nation's external reserves remain robust, exceeding the Central Bank of Nigeria's annual targets.
Context & Background
- ✦The Nigerian foreign exchange market is currently characterized by a persistent spread between official NFEM rates and parallel market street rates.
- ✦Seasonal end-of-year demand from importers and travelers is exerting significant pressure on the local currency's liquidity.
Key Figures & Named Entities
Central Bank of Nigeria (CBN):Oversees the NFEM and maintains external reserves.Gross External Reserves:$54.9 billion, exceeding the $51.04 billion full-year target.
Outlook & Next Steps
Market participants are closely monitoring daily NFEM liquidity injections and official CBN updates to gauge the direction of the naira for the remainder of the fourth quarter.
Key Takeaways
AI Summary- The Nigerian naira faces sustained demand pressure in both official and parallel markets as of November 12, 2026.
- A significant exchange rate gap of ₦68 to ₦80 per dollar persists between the official NFEM benchmark and street-level rates.
- Nigeria's gross external reserves remain strong at $54.9 billion, providing a buffer against market volatility despite seasonal demand.
Key Facts:November 2026: The parallel market reached a 10-month low of ₦1,430 per dollar earlier in the week.November 2026: Interbank turnover reached $248.07 million across 144 deals during earlier trading sessions this week.
Editorial Excerpt
The Nigerian naira opened trading on Thursday, November 12, 2026, under sustained demand pressure across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, maintaining the wider spread observed earlier in the week.
Frequently Asked Questions About This Story
What is the current exchange rate gap between the official and parallel markets?
The gap is currently between ₦68 and ₦80 per dollar.
Why is the naira experiencing softening according to market analysts?
Analysts attribute the softening to seasonal foreign exchange demand from importers and travelers, foreign portfolio investment outflows, and a stronger US dollar globally.
