The Nigerian naira maintained its position on Friday, November 14, 2025, trading at approximately ₦1,441.33 per US dollar at the official Daily Nigerian Foreign Exchange Market (NFEM) fixing—unchanged from early-day levels.
In the parallel (cash) market, currency dealers priced the dollar around ₦1,460 for selling and about ₦1,450 for buying across major Nigerian cities. Most black-market tracking platforms reported average rates between ₦1,455 and ₦1,460 between November 13 and 14.
Why the Rate Gap Continues
The difference between the official NFEM rate and parallel-market pricing has persisted through the week. Analysts attribute this to strong cash demand in informal channels and short-term hedging activity by importers. These pressures continue to push parallel rates slightly above the official window, even as liquidity on the official side remains relatively stable.
Market Drivers
Traders highlighted several factors shaping the currency’s movement:
Liquidity injections and FX sales by monetary authorities, which support the official fixing.
Global oil price softness and broader dollar trends affecting foreign exchange inflows.
Earlier monetary policy easing that shifted yields and influenced portfolio activity.
They noted that recent Central Bank interventions have helped limit sharp swings in the official rate.
Outlook
With the NFEM rate hovering near ₦1,441 and parallel-market quotes around ₦1,455–₦1,460, attention is focused on:
1. Future CBN dollar supply and liquidity levels,
2. Oil revenue inflows and foreign portfolio movements, and
3. Import demand and corporate hedging activity.
Traders cautioned that significant changes in global oil prices or fresh policy steps from the Central Bank could either narrow or widen the current premium between both markets.
