Dollar to Naira Exchange Rate Today: Black Market, Forex and CBN Updates, November 13, 2025

The Nigerian Foreign Exchange Market (NFEM) recorded a relatively stable performance on Thursday, November 13, 2025, as the Naira maintained its recent levels against the United States Dollar. Both the official and parallel markets showed minimal fluctuations, reflecting a steady currency trend supported by ongoing monetary adjustments.

Official Market Update

According to data from the Nigerian Foreign Exchange Market (NFEM), the Dollar to Naira exchange rate opened around ₦1,440.08 per US Dollar in early trading on Thursday. The highest rate recorded during the session was approximately ₦1,442.17/$, while the lowest rate stood near ₦1,440.08/$.

The closing rate from the previous trading day was ₦1,440.89/$, showing only a slight variation and suggesting continued intervention by the Central Bank of Nigeria (CBN) to sustain stability in the official forex market.

Market analysts note that the consistent movement of the Naira within a narrow range indicates improved liquidity and a balanced demand-supply environment in the official window.

Parallel Market (Black Market) Rates

Reports from Bureau De Change (BDC) operators and independent forex traders revealed that the Dollar exchanged at slightly higher levels in the parallel market compared to the official rate.

As of today, the indicative rates are as follows:

• Buying rate: Around ₦1,450 per Dollar
• Selling rate: Around ₦1,460 per Dollar

These rates, while unofficial, often reflect the real-time buying and selling activities of small businesses, importers, and individuals who depend on quick currency access. The continued narrow gap between official and black market rates has been interpreted by analysts as a sign that speculative trading is declining, and that market confidence is gradually improving.

Market Analysis and Economic Outlook

The relative calm in both the NFEM and parallel markets highlights the effectiveness of the CBN’s recent policy interventions aimed at achieving exchange rate convergence. Increased forex inflows, including remittances, export earnings, and foreign portfolio investments, have contributed to better liquidity levels.

Economic experts believe that maintaining this momentum will depend on how the CBN manages the Monetary Policy Rate (MPR) and capital inflows over the coming weeks. Any significant increase in dollar supply through export proceeds or foreign investments could strengthen the Naira further.

While the currency has shown resilience in recent sessions, traders caution that the exchange rate remains sensitive to global oil prices, inflation trends, and fiscal policy outcomes.

For importers, investors, and everyday consumers, the steady Naira provides short-term relief from rising costs and helps businesses plan more confidently. However, long-term stability will rely heavily on sustained economic growth, diversification, and consistent forex management.

Summary of Today’s Forex Rates (November 13, 2025)

• Official NFEM Opening Rate: ₦1,440.08/$
• Highest Official Rate: ₦1,442.17/$
• Lowest Official Rate: ₦1,440.08/$
• Parallel Market Buying Rate: ₦1,450/$
• Parallel Market Selling Rate: ₦1,460/$

Key Takeaway

The Nigerian currency market continues to demonstrate cautious stability, with the Central Bank’s interventions keeping volatility under control. The small difference between official and parallel market rates signals improving alignment and confidence in Nigeria’s forex system.

Observers will be watching closely as fiscal and monetary policies evolve, particularly in relation to interest rate decisions and foreign investment inflows, which are likely to shape the Naira’s movement against the Dollar in the coming days.