The Naira continued to feel pressure in the parallel market at the start of the week, trading well below the official rate despite ongoing government reforms. Activity across major hubs showed slight variations, but traders reported that the currency struggled to gain ground as demand for dollars remained consistently high.
In the black market, rates hovered between ₦1,450 and ₦1,460 for buying, while selling ranged from ₦1,470 to ₦1,480 per dollar. These figures often shift depending on transaction size and location, but the overall trend reflects the persistent scarcity of foreign currency outside official channels.
On the official side, the Nigerian Foreign Exchange Market (NFEM) Investors’ & Exporters’ Window closed at ₦1,452.68 per dollar on November 23, 2025. Although this represents a narrower gap between the regulated and parallel markets when compared to previous months, everyday users and businesses still rely heavily on black market availability due to limited access through banks.
Market watchers say the Naira’s performance will largely depend on forthcoming decisions from the Central Bank of Nigeria, especially regarding liquidity measures and interest rates. Analysts also note that a significant increase in foreign exchange inflows—either from improved oil earnings or a rise in foreign investment—is essential to relieve pressure on the currency in the near term.
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