Exchange rate today, November 9, 2026: Naira depreciates against USD across FX markets
AI Executive Briefing
Gemini Flash AI~45s readThe Nigerian Naira began the week with a depreciation across both official and parallel foreign exchange markets. This downward trend coincides with a reported decline in the nation's external reserves.
Context & Background
- ✦The foreign exchange market in Nigeria remains volatile, with the Naira facing pressure in both official and parallel segments.
- ✦The decline in external reserves, which dropped to $55.06 billion by November 6, 2026, serves as a critical indicator of the country's current economic liquidity challenges.
Key Figures & Named Entities
Central Bank of Nigeria (CBN):Reported the official exchange rate and external reserve data.N1,349.34:The official exchange rate per dollar recorded on November 9, 2026.N1,425:The parallel market exchange rate recorded on November 9, 2026.
Outlook & Next Steps
Market participants will continue to monitor the Central Bank of Nigeria's data for further fluctuations in exchange rates and the status of external reserves.
Key Takeaways
AI Summary- The Nigerian Naira experienced a depreciation against the US Dollar in both official and parallel foreign exchange markets on Monday, November 9, 2026.
- At the official market, the Naira weakened to N1,349.34 per dollar, marking a decline of N2.54 from the previous trading session.
- Parallel market rates saw a sharper decline, with the Naira trading at N1,425 per dollar, a loss of N15 compared to Friday's closing rate.
Key Facts:November 5, 2026: Nigeria's external reserves were recorded at $55.13 billion.November 6, 2026: Nigeria's external reserves declined to $55.06 billion.November 9, 2026: The Naira depreciated to N1,349.34 per dollar at the official market.
Editorial Excerpt
The naira depreciated against the US dollar at both the official and parallel foreign exchange markets on Monday, starting the week on a negative note.Data from the Central Bank of Nigeria, CBN, showed that the naira weakened to N1,349.34 per dollar on Monday, compared with N1,346.80 recorded on...
Frequently Asked Questions About This Story
How much did the Naira lose in the official market on Monday?
The Naira depreciated by N2.54 against the dollar in the official market.
What is the current status of Nigeria's external reserves?
As of November 6, 2026, Nigeria's external reserves stood at $55.06 billion.
