Naira Holds Steady at ₦1,441 on Official Market, Trades Higher on Parallel Window
The Nigerian naira closed Friday, November 14, 2025, at approximately ₦1,441.33 per dollar on the official Daily Nigerian Foreign Exchange Market (NFEM), the same level it opened with.
Across the parallel (cash) market, however, the dollar traded higher — around ₦1,460 on the sell side and ₦1,450 on the buy side in major cities. Most black-market trackers reported averages between ₦1,455 and ₦1,460 over November 13–14.
Why the Gap Remains
The spread between the official NFEM rate and parallel-market pricing has persisted throughout the week. Cash demand outside formal banking channels and short-term hedging by importers continue to push parallel rates above the official figure.
Analysts say the difference reflects ongoing pressure in the informal market, even though liquidity at the official window has been relatively stable.
What’s Driving the Market
Traders highlighted several factors influencing the naira’s movement:
CBN FX sales and liquidity support that help stabilise the official rate
Soft global oil prices, which affect Nigeria’s FX inflows
Dollar strength in international markets
Monetary policy easing earlier in the year, which has impacted yields and investor interest
Recent interventions from the Central Bank have helped prevent sharp fluctuations on the official side.
Read Also;
Dollar to Naira exchange rate today, November 13, 2025
Outlook
With the NFEM rate hovering around ₦1,441 and parallel rates near ₦1,455–₦1,460, analysts say the direction of the naira in the near term will depend on:
1. CBN liquidity levels and further FX interventions
2. Oil revenue inflows and foreign portfolio participation
3. Demand pressure from importers and corporates
Any major shift in global oil prices or a new CBN policy announcement could either narrow or widen the current spread between the official and parallel markets.
