Dollar to Naira Live Today: Official & Parallel Market Rates – Nov 21, 2025

The Nigerian naira traded at approximately ₦1,451 per US dollar in the official Nigerian Foreign Exchange Market (NFEM) on November 21st, 2025. In the parallel market, the dollar was exchanged at around ₦1,475, reflecting ongoing demand pressures.

Official and Parallel Market Rates
According to the daily fixing published by the Central Bank of Nigeria, the NFEM recorded a volume-weighted average of ₦1,451/$1, serving as the primary benchmark for regulated transactions.
In the informal parallel market, the dollar traded for about ₦1,475/$1, leaving a spread of roughly ₦24 to ₦26 between the two markets.

Why the Exchange Rate Gap Matters
Nigeria currently operates a dual-market foreign exchange structure: the official NFEM/NAFEX window for eligible transactions and an active parallel market where individuals, SMEs, and small bureaux source forex.
A widening gap between these markets often raises the cost of imports, increases business expenses, and contributes to inflationary pressure. A narrower spread usually signals improved liquidity and reduced uncertainty for consumers and investors.

Market Trend and Economic Context
FX dashboards and financial platforms showed modest fluctuations throughout the week, with official rates staying in the mid-₦1,400s. Parallel market prices hovered in the high-₦1,400s, indicating moderate but persistent volatility across trading channels.
Data from market trackers also showed that surrounding-day parallel market quotes ranged between ₦1,450 and ₦1,468, reflecting tight but active forex trading conditions.