The naira held steady on Saturday, with the official Nigerian Foreign Exchange Market (NFEM) closing around ₦1,436 to the US dollar, while the parallel market sold the dollar at about ₦1,470. Traders said low volatility at the official window and consistent demand at bureaux-de-change kept the gap between both markets relatively tight.
Key Rates
Official NFEM (VWAP): ~₦1,436/$
Parallel market: ₦1,470/$ (sell), with buying rates between ₦1,445 and ₦1,458
Market Conditions
The official rate maintained the stability seen earlier in the week, after slight gains by the naira. Data from market platforms showed trades holding in the mid-₦1,430s on Friday and remaining firm into Saturday, supported by inflows from exporters and remittances.
In the parallel market, dealers kept dollar quotes about ₦30–₦35 above the official rate. Activity was described as moderate, driven mostly by retail buyers and travellers, with little large-ticket demand. Online trackers placed selling rates at roughly ₦1,469–₦1,470.
Why It Matters
The difference between official and parallel rates is a key indicator of confidence in Nigeria’s FX system. A smaller gap usually suggests better liquidity through official channels, while a wider spread points to pressure in the informal market. Recent CBN policies and improved inflows have helped steady the naira in recent months.
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Dollar to Naira exchange rate today, November 7, 2025
Outlook
Traders say movements in the coming days will hinge on inflows from oil and non-oil exports, foreign portfolio investments, and any new guidance from the Central Bank. With inflation easing and the CBN signalling a more stable policy environment, volatility is expected to remain contained unless a major disruption hits FX supply.
