The Nigerian Naira commenced trading on Monday, November 10, 2025, demonstrating stability on the official market, even as a noticeable gap persisted with the parallel market.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the official window, the volume-weighted average rate held firm between ₦1,436 and ₦1,437 to a single US dollar.
This official stability was mirrored, albeit at a higher range, in the parallel market, where the dollar was bought and sold between ₦1,450 and ₦1,470, with the price fluctuating based on the dealer’s location and market liquidity.
Financial analysts report that the Naira’s firm position on the official market is buoyed by consistent dollar inflows from exporters and overseas remittances. However, persistent cash demand in city-based Bureau De Change (BDC) segments continues to exert upward pressure on street rates, maintaining the premium over the official window.
While recent Central Bank policies and improved non-oil dollar inflows have provided crucial support, experts caution that a lasting convergence of the rates hinges on a more stable and robust supply of foreign exchange.
