Dollar to Naira Exchange Rate Today: Official, Black Market, and CBN Rates (November 15, 2025)

The Nigerian naira traded within a narrow band on Saturday, November 15, 2025, as activity across the official and parallel foreign-exchange markets remained stable. Official data showed the naira holding between ₦1,441 and ₦1,444 per US dollar at the Daily Nigerian Foreign Exchange Market (NFEM), while the cash (parallel) market recorded slightly higher quotes.

Official Exchange Rate (NFEM)

The official FX window maintained a steady average between ₦1,441 and ₦1,444 per dollar, reflecting the Central Bank of Nigeria’s continued management of supply and demand conditions in the market.

Parallel Market Rate

Traders in major cities such as Lagos and Abuja reported quotes around:

• ₦1,450 per dollar for buying
• ₦1,460 per dollar for selling

This kept the parallel-market premium in the mid-teens, a range analysts say may persist in the near term.

What’s Supporting the Naira Today

Market operators attributed the stable trading range to several factors:

• Ongoing CBN interventions aimed at improving FX liquidity
• Increased foreign portfolio inflows into Nigerian debt instruments
• Consistent oil revenue inflows boosting dollar supply
• Improved global risk sentiment
• The central bank’s recent monetary policy adjustments, which have helped ease pressure on the currency

These dynamics helped calm volatility compared to earlier in the year, when dollar scarcity drove sharper swings in both markets.

Why the Official–Parallel Gap Persists

The difference between the official and cash-market rates remains around ₦15 to ₦25, a spread analysts expect to continue until:

• The CBN releases more spot FX into the official market
• Liquidity in the parallel market tightens
• Importers and corporate buyers shift more volumes to the official window

Large importers and businesses are still monitoring both markets closely before making major currency purchases.

What Traders Are Watching Next

Investors and currency dealers are keeping an eye on several developments that could influence the naira’s movement in the coming days:

• Fresh FX inflows from crude-oil sales
• Potential CBN dollar interventions
• New portfolio-investment inflows from offshore players
• Updates on interest-rate decisions
• Nigeria’s foreign-reserve data, which remains a key indicator of dollar availability

Any shift in these factors could narrow or widen the current spread between the official and parallel markets.