Dollar to Naira Today, 8 November: Naira gains against pound, euro

The dollar to naira exchange rate today, Sunday, 8 November 2026, is approximately ₦1,346.79 per dollar, using the latest official Nigerian Foreign Exchange Market (NFEM) volume-weighted reference rate for Friday, 6 November. The naira strengthened by about ₦1.95 compared with Thursday’s comparable rate.

The Central Bank of Nigeria‘s separate central reference rates stood at ₦1,346.29 per US dollar, ₦1,802.96 per British pound and ₦1,503.54 per euro on Friday. A currency tracker reported a Saturday parallel-market dollar selling indication of ₦1,429.66, although that quote has not been independently confirmed with a named dealer.

Because Sunday is not a regular NFEM trading day, these figures represent the latest available reported observations rather than new Sunday trading prices.

The official exchange rate varies by benchmark. The NFEM volume-weighted dollar rate and CBN central reference rates should not be presented as identical prices. The table below identifies the series used.

The NFEM volume-weighted dollar rate declined from ₦1,348.7416 on Thursday, 5 November, to ₦1,346.7945 on Friday, 6 November. That is a change of −₦1.9471 per dollar, or about −0.14 per cent. Since the quote is expressed in naira per dollar, a decrease indicates a stronger naira.

The CBN’s separate central dollar reference rate was ₦1,346.29, with published buying and selling rates of ₦1,345.79 and ₦1,346.79. A reported final market close of ₦1,349 represents another price measure and should not be conflated with the volume-weighted reference rate.

A market tracker published indicative quotations at 7:47am West Africa Time on Saturday, 7 November. These are not independently verified executable prices from identified dealers in Lagos or Abuja.

Comparing the tracker’s dollar selling indication of ₦1,429.66 with Friday’s NFEM reference rate of ₦1,346.7945 gives a difference of ₦82.8655 per dollar, approximately 6.15 per cent of the official reference. For $1,000, the notional difference is about ₦82,866.

Because the quotes refer to different markets, rate types and dates, this is a comparison for readers, not a tradable arbitrage opportunity or a guaranteed retail saving.

During the five trading sessions from 2 to 6 November, the available NFEM reference observations ranged from approximately ₦1,346.79 to ₦1,348.74 per dollar. The rate ended 6 November only about 54 kobo above its 30 October value of ₦1,346.2565, a change of roughly 0.04 per cent.

Compared with about ₦1,331.19 on 9 October, however, the 6 November rate was roughly 1.17 per cent higher, indicating a weaker naira over that longer period. The chart uses the comparable five-day NFEM series, rather than mixing it with CBN central or retail quotes.

The following examples use the CBN central reference rates for 6 November. They are illustrative and do not account for remittance-provider spreads, fees or payment-specific charges.

Foreign-exchange supply, import demand, oil receipts, investor activity, remittances and CBN policy operations all influence currency markets. A business report published on 7 November said the CBN supplied $50 million to the foreign-exchange market during the week and cited gross external reserves of approximately $55.13 billion on 5 November.

Those developments offer context, but the available evidence does not show that any single intervention caused Friday’s small appreciation. A day’s exchange-rate change should not automatically be interpreted as a change in food prices or inflation.

A UK resident sending £500 to Nigeria should compare the GBP/NGN rate offered by actual transfer providers and the final naira amount the recipient will receive. The CBN reference-based example is ₦901,480 before charges, not a promise that a transfer company will pay that amount.

The same principle applies to transfers in euros or US dollars. Nigerians in Canada should check the applicable CAD conversion and provider fees rather than infer their return from USD/NGN alone. For families receiving money, a stronger naira means fewer naira for a fixed foreign-currency amount, but purchasing power also depends on Nigerian prices.

Importers and manufacturers purchasing foreign inputs may benefit from sustained currency stability, while exporters and recipients of foreign remittances may receive fewer naira for each foreign-currency unit when the naira strengthens. Short-lived changes may not pass immediately into prices because businesses hold stock purchased at older rates.

Consumers should therefore avoid assuming that a modest one-day gain will promptly reduce the cost of food, transport, fuel or medicines.

The next regular NFEM trading session is expected on Monday, 9 November 2026. Traders and businesses will watch market liquidity and turnover alongside the relationship between official references and the prices actually offered by retail providers.

Before transferring money, readers should confirm that their provider is appropriately authorised, compare all charges and check the exact recipient amount.

The latest reported NFEM volume-weighted dollar rate is ₦1,346.7945 for 6 November. Friday’s CBN central reference rates were ₦1,346.29 per dollar, ₦1,802.96 per pound and ₦1,503.54 per euro. Saturday’s parallel-market tracker listed an indicative dollar selling price of ₦1,429.66, but independent dealer-level confirmation is outstanding.

Use the correct dated series for comparisons. Reference prices and real retail transactions are not interchangeable.

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