The Nigerian naira held steady at ₦1,441.33 to the United States dollar (US Dollar) in the Daily Nigerian Foreign Exchange Market (NFEM) fixing on Friday, November 14, 2025.
Naijaonpoint reports that the rate remained unchanged from the opening level, reflecting a relatively calm session in the official market.
However, on the parallel market, the dollar traded higher. Dealers quoted between ₦1,450 (buy) and ₦1,460 (sell) across major cities, maintaining an average premium of ₦18-₦28 above the official fixing.
Black-market rate trackers showed consistent averages of ₦1,455-₦1,460 between November 13 and 14.
The widening gap between the official NFEM rate and the street market continued into the week.
Traders noted that persistent cash demand, informal-sector transactions, and short-term importer hedging have kept parallel-market prices stronger.
Analysts, according to Vanguard, say the divergence reflects ongoing pressure outside government-controlled channels, even though liquidity in the official market has shown signs of stability.
- Several forces shaped the naira’s movement on Friday. Traders referenced:
- Liquidity injections and FX sales by monetary authorities that helped stabilise the NFEM fixing.
- Softer global oil prices are affecting foreign exchange inflows.
- Shifts in global dollar strength are influencing supply.
- Domestic monetary policy eased earlier in the year, which altered yields and slowed portfolio inflows.
Market operators said the Central Bank’s intermittent interventions have helped prevent sharp volatility at the official window.
With the official rate stable at ₦1,441 and parallel rates hovering around ₦1,455-₦1,460, analysts say the naira’s near-term direction will depend on several variables.
These include the Central Bank’s FX liquidity and any further dollar sales into the market, oil-sector receipts and foreign portfolio activity, importers’ demand and corporate hedging appetite.
Naijaonpoint reports that any significant movement in global oil prices or a fresh CBN policy announcement could narrow or widen the premium between the official and parallel markets.
© 2025 Naijaonpoint, a division of NOP Media Inc. Contact us via [email protected]