The naira traded slightly weaker on Wednesday, November 12, 2025, across both the official and parallel foreign exchange markets, with the Central Bank of Nigeria’s official rate closing at around ₦1,437 per US dollar, while parallel market traders in Lagos sold the dollar between ₦1,455 and ₦1,465.
At the official Nigerian Foreign Exchange Market (NFEM/NAFEM) — which serves as the benchmark for corporate and institutional transactions — the naira settled at approximately ₦1,437 to the dollar. However, in the parallel market, where demand for physical cash remains high, rates hovered closer to ₦1,460, with some reports of sales reaching ₦1,465 depending on location and timing.
This left a premium gap of about ₦18–₦28 per dollar between the official and unofficial markets, reflecting ongoing foreign exchange demand pressures and limited supply in cash markets outside formal banking windows.
Market analysts attributed the mild depreciation to steady importer demand and restricted dollar inflows, which continue to tighten liquidity. While institutional trades through the NAFEM/I&E window remain more stable, smaller buyers and travellers still rely heavily on parallel market sources.
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Dollar to Naira exchange rate today, November 11, 2025
What it means for consumers and businesses
Individuals needing cash dollars for travel, school fees, or other expenses should expect to pay between ₦1,455 and ₦1,465 in the parallel market.
Businesses and importers transacting through official channels can expect rates closer to ₦1,437 — provided they have proper documentation and bank access.
Analysts say the naira’s short-term outlook will depend on improvements in foreign exchange supply, particularly from oil proceeds, diaspora remittances, and foreign investment inflows.
