The naira traded largely stable on Thursday, 5 November 2026, with the parallel market holding firm against the dollar while the official rate recorded a marginal decline, according to data from the CBN.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency closed at ₦1,348 per dollar on 4 November, slightly weaker than the ₦1,347.75 recorded on 3 November. This represented a ₦0.25 loss, or 0.02 percent depreciation, based on Central Bank of Nigeria (CBN) figures.
In the parallel market, the dollar remained unchanged as Bureau de Change (BDC) operators quoted ₦1,377 per dollar on 5 November, the same rate as the previous day.
Other parallel market rates showed modest gains for the naira: Pound sterling was at ₦1,854 per £1 (down ₦4 or 0.22 percent from ₦1,858), Euro, ₦1,547 per €1 (down ₦3 or 0.19 percent from ₦1,550) and the Canadian dollar ₦987 per CAD (unchanged).
Nigeria’s external reserves continued a slight downward trend with CBN data showing foreign reserves at $55.150 billion as of 3 November, a 0.03% decline from $55.168 billion the previous day.
