Pound Trades Steady Around ₦1,895 as Official and Parallel Market Rates Align
The British pound traded around ₦1,895 to the Nigerian naira on Thursday, November 13, 2025, showing continued stability across both official and parallel market segments.
Exchange Rate Overview
According to data from the Nigerian Foreign Exchange Market (NFEM) and the Central Bank of Nigeria (CBN), the official mid-market reference rate stood at ₦1,894.78 per £1.
In the parallel market, street traders quoted between ₦1,900 and ₦1,930 per pound, indicating a modest premium over the official rate. Online forex trackers and mid-market aggregators also reflected similar trends, averaging between ₦1,889 and ₦1,893 per pound.
Market Trends
The pound-to-naira rate has traded within a narrow band this week, following earlier volatility seen in November. Analysts attribute the current calm to steady foreign inflows, improved liquidity, and ongoing CBN interventions aimed at reducing exchange rate gaps.
The smaller difference between official and parallel rates marks a noticeable improvement compared to earlier in the year when the spread was significantly wider.
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Dollar to Naira exchange rate today, November 13, 2025
Impact on Businesses and Individuals
For importers and firms with access to official FX windows, the ₦1,895 benchmark provides a more predictable cost structure. However, businesses and individuals relying on the parallel market still face higher expenses due to limited official supply.
Travellers and those receiving remittances in pounds may find slightly better conversion rates through formal banking channels, though many still turn to the street market for faster cash access.
Overall, the naira’s exchange performance against the pound reflects cautious optimism among traders, with hopes that policy stability and increased FX inflows will continue to strengthen the local currency in the coming weeks.
