UPDATED: See Naira Exchange Rate Against Dollar Today

UPDATED: See Naira Exchange Rate Against Dollar Today

The naira traded broadly stable on Tuesday, supported by stronger liquidity in the Nigerian Foreign Exchange Market (NFEM), which kept the official rate below black-market levels.

The NFEM’s volume-weighted closing rate stood at ₦1,448.03 per US dollar on November 18, 2025, slipping by about ₦5.60 (-0.39%) from the previous session.

Parallel-market rates, however, remained higher.

Market trackers quoted ₦1,455–₦1,460 per dollar, leaving a ₦7–₦12 premium over the NFEM rate as bureaux de change and street traders continued to demand more for physical cash dollars than the official benchmark used for larger transactions.

The NFEM rate, also published as the NAFEM or I&E/NAFEM window, reflects the daily volume-weighted exchange price from interbank and market trades and remains the key reference for corporate and institutional FX flows.

Parallel-market prices, typically monitored on platforms like Abokiforex, capture real-time demand for cash dollars and often diverge from official pricing.

Recent naira movements follow improved FX supply and easing interest rates after the Central Bank of Nigeria reduced its policy rate in September.

Analysts say higher foreign inflows, continued CBN interventions, and softer inflation have helped curb the volatility that dominated the market through 2024 and early 2025.

For businesses, the gap means importers and firms with FX obligations are more likely to source dollars through the NFEM to benefit from the official rate.

Meanwhile, small traders, travellers, and remittance recipients who rely on cash transactions continue to face the higher parallel-market premium.