The naira held relatively steady on Friday, November 7, 2025, trading between ₦1,437 and ₦1,444 to the dollar at the Nigerian Foreign Exchange Market (NFEM), according to market data and figures from the Central Bank of Nigeria.
In the parallel market, traders in Lagos and other major cities quoted the dollar at around ₦1,440 for buying and ₦1,455 for selling. A few informal sources reported isolated transactions as high as roughly ₦1,515, putting the black-market rate about ₦10 to ₦70 weaker than the official market average.
Why the naira behaved this way
Traders said the currency’s stability this week was supported by steady inflows into the official market and continued policy signals from the CBN following its decision in September to begin easing interest rates. Those measures have helped reduce volatility since the middle of the year. They added that the parallel market is still largely driven by demand from importers, fuel-related transactions, and shifts in sentiment among bureau-de-change operators.
What this means for Nigerians
Importers and businesses that rely on dollars still pay higher rates if they source FX from the parallel market. Companies with access to the NFEM benefit from lower rates compared to those buying from informal dealers. For travellers, small businesses, and people handling small remittances, the rates available tend to be closer to the parallel-market band.
Read Also;
Dollar to Naira exchange rate today, November 6, 2025
What to watch in the coming days
Analysts say key factors to monitor include:
1. How much liquidity the CBN continues to supply to the NFEM
2. Oil revenue and other foreign-exchange inflows
3. Import-driven demand — especially fuel — which often forces buyers back to the parallel market
Some analysts have also warned that recent discussions around fuel pricing and refinery policy could increase dollar demand if market expectations shift.
