The Naira began the week under fresh pressure in the parallel market, where many Nigerians still source their foreign currency.
On Monday, November 24, 2025, the dollar traded much higher in the black market than at the official Nigerian Foreign Exchange Market (NFEM), widening concerns about supply shortages.
Parallel Market Rates
Buying: ₦1,450 – ₦1,460 per $1
Selling: ₦1,470 – ₦1,480 per $1
These figures vary slightly by city and by the amount being exchanged.
Market Overview
The Naira continues to struggle in the unofficial market due to limited dollar supply, even as the government pushes for a unified exchange rate system. Demand from businesses, travellers, and individuals remains high, keeping pressure on the black-market rate.
Official Market Snapshot
At the NFEM, the last recorded closing rate (I&E Window) was about ₦1,452.68 per $1 on November 23, 2025. Although the gap between official and parallel rates is smaller than at earlier points this year, it still shows that many retail and informal-sector transactions depend on parallel market liquidity.
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Dollar to Naira exchange rate today, November 24, 2025
Outlook
Traders are watching the Central Bank of Nigeria for its next moves, especially around FX injections and interest rate policy. Analysts say the Naira is unlikely to see strong relief until Nigeria records more stable dollar inflows from oil exports or foreign investment.
