Dollar Gains as Naira Slips to ₦1,436.58 on Official Market, ₦1,469 on Parallel Market

The naira weakened slightly on Tuesday, November 11, 2025, as Nigeria’s official Daily Foreign Exchange Market (NFEM) closed around ₦1,436.58 per US dollar, according to figures released by the Central Bank of Nigeria (CBN).

In the parallel market, traders in Lagos and other major cities quoted the dollar between ₦1,445 (buy) and ₦1,469 (sell), with most transactions occurring around ₦1,460–₦1,465. Some dealers reportedly sold for as high as ₦1,515 in certain locations.

The exchange rate gap between the official and parallel markets widened to about ₦28–₦30 per dollar, reflecting limited foreign exchange inflows and continued high demand in unofficial channels. Commercial banks and authorised dealers maintained use of NAFEX/NAFEM and I&E window rates for corporate transactions.

Interbank market data showed quotes hovering in the mid-₦1,440s, with Citibank’s bulletin indicating rates between ₦1,442 and ₦1,448 as of November 10. Analysts attributed the naira’s soft performance to weaker liquidity, which declined by roughly 15.7% this week, alongside sustained demand from importers and for invisible payments.

Experts said the pressure on the local currency may continue until Nigeria experiences stronger dollar inflows. For small buyers, the parallel market remains the main option at around ₦1,445–₦1,469 per dollar, while corporates using the I&E or NAFEX windows will likely access slightly firmer quotes around the mid-₦1,440s, depending on documentation and bank processes.