Dollar to Naira Exchange Rate Today, November 27, 2025: Official Rate and Parallel Market Updates

On Thursday, November 27, 2025, the naira traded in a two-tier foreign exchange market, with the official Daily Nigerian Foreign Exchange Market (NFEM) rate hovering around the mid-₦1,400s per US dollar, while the parallel (black-market) rate remained notably higher at approximately ₦1,460–₦1,465.

According to the latest NFEM data, the official, volume-weighted average rate stood at about ₦1,446 per US$1. In contrast, retail dealers in major trading hubs, including Lagos, quoted dollars at ₦1,460–₦1,465 per US$1, indicating a premium over the official rate due to higher demand in the informal market.

Market Structures

The NFEM rate showed minor intraday fluctuations earlier in the week but remained stable around the mid-₦1,400s on Thursday. The official rate is derived from volume-weighted transactions and is published by the Central Bank of Nigeria (CBN).

Meanwhile, the parallel market continued to reflect stronger street demand, with buyers paying significantly more than the official fixing. Black-market trackers reported rates as high as ₦1,465 per dollar, demonstrating the persistent gap between the formal and informal FX markets.

The Gap

The difference between the official NFEM rate and the parallel market rate highlights ongoing liquidity constraints and limited access to foreign currency in formal channels. For businesses and individuals, this spread increases the cost of imports, foreign travel, and dollar-denominated services. Companies often have to source dollars at higher rates on the street, which can push up prices for imported goods.

Historical data and market tracking indicate that the official USD/NGN rate has traded steadily in the mid-to-high ₦1,400s in recent days, while black-market rates have consistently remained above ₦1,460. Despite minor intraday volatility, there has been no sharp devaluation in the official rate as of November 27.