The naira maintained relative stability on Friday, November 7, 2025, trading between ₦1,437 and ₦1,444 to the US dollar at the official Nigerian Foreign Exchange Market (NFEM).

The Central Bank of Nigeria’s (CBN) volume-weighted average price showed minimal movement, according to market data.

At the parallel market in Lagos and other major cities, dealers sold the dollar between ₦1,440 and ₦1,455, with some unverified reports of trades reaching ₦1,515.

This means the black-market rate was about ₦10 to ₦70 weaker than the NFEM average.

Why the naira is stable

Traders attributed the steady performance to stronger dollar inflows into the official window and continued policy measures by the CBN.

The central bank’s decision in September to begin easing interest rates has reportedly helped calm foreign exchange volatility since mid-2025.

Analysts added that the parallel market remains driven by dollar demand for imports and fuel purchases, as well as changing confidence among bureau de change operators.

Impact on Nigerians

Businesses and importers using the parallel market still pay higher exchange rates than those accessing dollars through the official NFEM window.

Companies with NFEM access continue to enjoy lower costs, while travellers and individuals receiving remittances face rates closer to the parallel market level.

What to expect next

Experts say future movements of the naira will depend on CBN’s liquidity management, oil earnings, and foreign exchange inflows from exports and investors.

They also warned that fuel and import demand could increase pressure on the parallel market if not well managed. Analysts are watching closely for any policy changes or fuel market developments that might influence dollar demand.