{
  "id": 19772083,
  "title": "Naira depreciates to N1,445/$ in parallel market as gap with official rate widens to N86.50",
  "url": "https://urgent.news/2026/11/13/naira-depreciates-to-n1-445-in-parallel-market-as-gap-with-official",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-13T06:13:13.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/11/13/naira-depreciates-to-n1445-in-parallel-market-as-gap-with-official-rate-widens-to-n86-50/"
  },
  "original_language": "en",
  "account": "On Thursday, November 12, 2026, the Nigerian naira experienced a depreciation to N1,445 per US dollar in the parallel market, marking a widening gap of N86.50 with the official exchange rate. The Bureau de Change operators in Abuja quoted the dollar at N1,445, signaling increasing pressure in the parallel market. At the Nigerian Foreign Exchange Market (NFEM), the naira appreciated slightly, closing at N1,358.50/$ from N1,364/$ the previous session, according to CBN data. The official market recorded a modest 0.37% appreciation on Thursday, while the parallel-market rate weakened by N15 from Wednesday's quote, emphasizing the divergence between the two exchange market segments. The latest NFEM figures indicated the official exchange rate fluctuating between N1,348 and N1,363.75 during the session. The widening gap has been attributed to continued pressure in the informal market, with BDC operators attributing recent demand to purchases in anticipation of the festive season. Factors such as fiscal leakages, speculation, and arbitrage activities have historically contributed to the differences between official and informal exchange rates. NFEM turnover data reported $644.85 million in interbank transactions on November 12. Notably, Nigeria's net foreign exchange reserves surged to a record high of $46 billion, up from $34.80 billion at the end of 2025. On the international stage, the US dollar hovered near a 19-month high on Friday, buoyed by anticipations of a larger Federal Reserve interest rate hike. The dollar also remained steady against the Swiss franc at 0.835, nearing a one-month high.",
  "summary": "The naira weakened to N1,445 per dollar in the parallel market on Thursday, November 12, 2026, from N1,430 recorded on Wednesday, widening the gap between the informal and official exchange rates to N86.50. The post Naira depreciates to N1,445/$ in parallel market as gap with official rate widens to N86.50 appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}