UPDATED: See Naira To Dollar Exchange Rate Today

UPDATED: See Naira To Dollar Exchange Rate Today

The naira remained stable at the official Nigerian Foreign Exchange Market (NFEM) rate on Friday, even as it continued to weaken in the parallel (black) market.

At the NFEM, also known as the Investors and Exporters (I&E) window, the U.S. dollar traded around ₦1,460/$, marking a slight declined from earlier levels in the week.

However, in the parallel market, where retail cash transactions occur, the greenback maintained higher rates.

Dealers in Lagos and other major cities quoted the dollar between ₦1,495 and ₦1,515, with some transactions reaching ₦1,515/$1. This puts the street average at roughly ₦1,500 per dollar.

While importers and corporate entities accessing dollars through official channels continue to transact near the NFEM rate (≈₦1,460), individuals sourcing forex from the streets face higher rates (≈₦1,495–₦1,515), pushing up the cost of travel, remittances, and dollar-priced goods.

The gap between the official and parallel market rates reflects disparities in liquidity, access to official dollar supply, and market confidence.

Analysts note that Central Bank of Nigeria (CBN) policies including its interventions and recent monetary adjustments — have helped maintain stability in the official market despite sustained pressure on cash demand in the parallel segment.

Market watchers say attention will remain on weekly FX turnover, potential CBN interventions, and global dollar movements.

A rise in official dollar supply through the FMDQ/NAFEM platform could strengthen or stabilize the NFEM rate, while continued high demand for cash dollars may sustain the wide premium in the parallel market.