The naira traded around ₦1,440 per US dollar on Nigeria’s official Nigerian Foreign Exchange Market (NFEM) on Thursday, while in the parallel (black) market, the dollar was exchanged between ₦1,450 and ₦1,469.
Key Rates
Official NFEM (VWAP): ₦1,439.90 per $1
Parallel Market: Buying at about ₦1,450, selling between ₦1,460 and ₦1,469
Market Update
Thursday’s official rate remained close to previous sessions, suggesting some level of stability in the market. This stability follows several Central Bank of Nigeria (CBN) interventions and recent policy adjustments aimed at managing liquidity and strengthening the naira.
In Lagos, black-market traders were selling dollars at roughly ₦1,460–₦1,469, leaving about a 2% premium compared to the official rate. This gap shows how much more people pay for dollars outside the formal banking system.
Why It Matters
The difference between the official and parallel market rates affects importers, small businesses, and remittance recipients. A large gap can increase the cost of goods and reduce investor confidence, while a smaller gap signals a healthier and more unified FX market. Recent CBN policies seem to be narrowing that difference, which analysts view as a positive sign.
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Dollar to Naira exchange rate today, November 5, 2025
Recent Trend
After facing volatility earlier in 2025, the naira has shown signs of stabilising in November, with official rates staying mostly within the mid-₦1,400s range. Parallel market quotes have also been moving within a relatively small band of ₦20–₦50 above that level. Experts attribute this calm to better forex inflows and the CBN’s measured policy actions that are helping to reduce turbulence in the FX market.
