Dollar to Naira exchange rate update – November 12, 2026

VIA VANGUARD:

The naira opened Thursday under sustained demand pressure in both the official and parallel markets, keeping the wider spread seen earlier this week.

Earlier this week, official trading ranged between ₦1,349.25 and ₦1,354, with interbank turnover of $248.07 million across 144 deals.

Analysts blame end-of-year demand from importers and travelers, foreign portfolio outflows and a firmer global dollar. The parallel market hit a 10-month low of ₦1,430 this week.

Gross external reserves remain strong at about $54.9 billion, above the CBN’s $51.04 billion full-year target. Traders are watching daily liquidity injections and CBN updates.