Naira Holds Steady Against Dollar as Official and Parallel Markets Show Stability
The Nigerian Foreign Exchange Market (NFEM) recorded a relatively stable performance on Thursday, November 13, 2025, as the naira traded almost unchanged against the US dollar. The parallel (black) market, widely used for cash-based transactions, also reflected a similar calm in trading.
Official Market Overview
Data from the NFEM showed that the naira opened around ₦1,440.08 per US dollar in early trading. During the day, it reached a high of ₦1,442.17/$ and a low of ₦1,440.08/$. The Central Bank of Nigeria (CBN) appeared to maintain steady intervention in the market to keep exchange rate volatility minimal.
The closing rate from the previous day was reported at ₦1,440.89/$, indicating only a marginal movement in the official window.
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Parallel Market Activity
At the parallel market, Bureau De Change (BDC) operators and forex dealers quoted the dollar at about ₦1,450 for buying and ₦1,460 for selling. This marks a narrow spread compared to official rates, suggesting improved market stability and a reduction in speculative pressure.
Market Outlook
Analysts say the relative calm across both markets may reflect the impact of recent CBN policies aimed at boosting liquidity and aligning official and street exchange rates.
A smaller gap between the official NFEM rate and the parallel market rate often signals a healthier forex environment and increased investor confidence.
Market watchers, however, remain attentive to key economic indicators — including interest rate adjustments by the CBN and the pace of foreign investment inflows — which could determine the naira’s direction in the coming weeks.
