Naira depreciates as parallel market selling rate rises

The naira depreciated against the dollar on Monday, November 2, 2026, trading at N1,347.9435 at the CBN official window, while the parallel market selling rate rose by N2.

The Nigerian naira weakened against the US dollar on Monday, November 2, 2026, trading at N1,347.9435 at the Central Bank of Nigeria’s official foreign exchange window, according to CBN data, as reported by Tribune.

The data shows the currency traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,347.9435 per dollar and closed at N1,346.0100. On Friday, October 30, it traded at N1,346.2565, meaning the naira lost at least N1.69 after Monday’s trading.

At the parallel market, the buying rate was unchanged from Friday, while the selling rate rose by N2, according to Aboki FX. The black market figures for Monday were not fully provided in the source report.

The latest movement continues the naira’s recent gradual slide at the official window, with the currency trading in the N1,340 range.