Exchange rate today, November 3, 2026: Naira appreciates against USD
The naira appreciated against the United States dollar at the official foreign exchange market on Tuesday after starting the month on a negative note. Central Bank of Nigeria, CBN, data showed that the naira strengthened to N1,346.93 per dollar on Tuesday from N1,347.94 recorded on Monday. This means that the naira appreciated by N1.01 against […] Exchange rate today, November 3, 2026: Naira…
On Tuesday, November 3, 2026, the Nigerian naira experienced an appreciating trend against the United States dollar at the official foreign exchange market, according to data released by the Central Bank of Nigeria (CBN). The official rate showed the naira strengthening to N1,346.93 per dollar, marking a positive change from the previous day's rate of N1,347.94. This translates to a gain of N1.01 per dollar, indicating an overall appreciation for the naira.
However, in the parallel market, the naira was observed to be stagnant at N1,390 per dollar, mirroring the rate from the preceding day. This indicates that the parallel market did not reflect the improvement observed in the official exchange rate.
Meanwhile, the country's external reserves dwindled to $55.16 billion on November 2, 2026, a slight decline from $55.22 billion recorded on October 30. This data, provided by the apex bank, sheds light on the economic situation of Nigeria amid the fluctuating exchange rate.
In essence, despite the naira appreciating in the official market, the parallel market remained unchanged, showcasing a complex exchange rate scenario in Nigeria.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
