By Peter.
The Nigerian Naira showed mixed signals on Friday, November 7, 2025, strengthening slightly against the US Dollar in the parallel (black) market while dipping marginally in the official Nigerian Foreign Exchange Market (NFEM). This comes amid ongoing Central Bank of Nigeria (CBN) interventions to stabilize liquidity and curb volatility, as oil inflows and policy tweaks continue to influence sentiment.
Today’s Key Exchange Rates
- Parallel Market (Black Market): The Naira appreciated to ₦1,455 per USD (from ₦1,460 on Thursday), with buying rates around ₦1,440. Traders in Lagos and Abuja reported steady demand but improved dollar supply, narrowing the gap with official rates.
- Official NFEM (CBN Rate): The Naira weakened to ₦1,438.50 per USD (up ₦1 from Thursday’s ₦1,437.50), reflecting a minor depreciation of about 0.07%. The CBN’s volume-weighted average held steady in a narrow band of ₦1,437–₦1,444, buoyed by recent rate-easing measures.
This resulted in the premium between parallel and official rates shrinking to ₦17.50 (from ₦22.50), a positive sign for market convergence and reduced arbitrage opportunities.
Weekly Performance Snapshot
Over the past week, the Naira faced mild pressure:
- Official Market: Weakened by 50 kobo overall.
- Parallel Market: Declined by ₦1.
Despite these tweaks, the Naira has strengthened 1.94% month-over-month and 14.07% year-over-year, thanks to CBN’s FX auctions and diaspora remittances.
| Market | Thursday Rate | Friday Rate | Weekly Change |
|---|---|---|---|
| Parallel | ₦1,460/USD | ₦1,455/USD | -₦1 |
| Official NFEM | ₦1,437.50/USD | ₦1,438.50/USD | -₦0.50 |
What Drove Today’s Moves?
- Positive Factors: Enhanced dollar inflows from exports and remittances eased parallel market pressures, while CBN’s September rate cuts (to 26.25%) boosted confidence.
- Challenges: Lingering import demand for fuel and goods kept official rates volatile, with global oil prices dipping below $70/barrel adding caution.
- Broader Context: Inflation at 34.7% YOY underscores the need for sustained reforms, but analysts eye CBN liquidity injections and export growth as key stabilizers.
For real-time updates, check CBN’s portal or platforms like AbokiFX. As Nigeria navigates FX headwinds, today’s narrow spread hints at gradual alignment—watch for weekend remittances to set Monday’s tone. #NairaUpdate #USDNGN #CBN
