Naira Slips Slightly as Parallel Market Premium Widens
The naira weakened slightly on Tuesday, November 11, 2025, closing at ₦1,436.58 per dollar at the official Daily Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria.
In the parallel market, however, rates were much higher. Black market and BDC traders in Lagos and other major cities quoted the dollar between ₦1,445 and ₦1,469, with many transactions settling around ₦1,460–₦1,465. Some isolated reports showed rates going as high as ₦1,515.
The difference between the official NFEM rate and the parallel market widened to about ₦28–₦30 per dollar, a sign of tight dollar supply and strong demand outside official channels.
Banks and authorised dealers continued to use the NAFEX/NAFEM and I&E window benchmarks for large transactions. Commercial banks were quoting around the mid-₦1,440s, with a recent Citibank bulletin showing rates between ₦1,442 and ₦1,448 on November 10 — slightly stronger than street prices.
Analysts say the naira’s performance reflects weaker FX inflows this week — estimated to have dropped by about 15.7% — combined with strong demand from importers and those paying for services abroad. Without a rise in official inflows, they expect the parallel market premium to remain.
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Dollar to Naira exchange rate today, November 10, 2025
What This Means for You
Everyday buyers:
If you’re trying to buy small amounts of dollars, expect to pay the parallel market rate — typically ₦1,445–₦1,469, depending on your location.
Businesses and corporates:
Transactions through the I&E/NAFEX window will likely get slightly better rates in the mid-₦1,440s, but actual access will depend on your bank and documentation.
