Dollar to Naira Exchange Rate, November 5, 2025

Dollar to Naira Exchange Rate — November 5, 2025
Black market rate remains higher at ₦1,461 per dollar.
Economic factors and demand pressures continue to influence the exchange rates.

The Nigerian naira remains under pressure, with significant fluctuations seen between the official and black market exchange rates as of today.

Contents

Key Highlights:
What This Means for Nigerians:

FURTHER READING

EDITOR’S PICKS

EKO HOT BLOG reports that below is the breakdown of the rates:

Market Type	Exchange Rate (₦ per USD)
Official Rate	₦1,436 to ₦1,438
Black Market Rate	₦1,461

Key Highlights:

Official Rate: As of today, the Central Bank of Nigeria (CBN) quotes the official exchange rate for the dollar at ₦1,436 to ₦1,438 per dollar.
Black Market Rate: The parallel market (black market) rate remains at ₦1,461 per dollar, showing a significant gap between the official and unofficial exchange rates.
Factors Affecting Rates: Demand from sectors like importers, education, and travel continues to put pressure on the naira, despite slight improvements in the official rate.

What This Means for Nigerians:

For Importers: Importers are still facing high costs for foreign goods, which may translate to higher prices for consumers.
For Travellers and Students: Nigerians going abroad or paying for overseas education and healthcare could see a slight reduction in costs, but it remains expensive.
For Businesses: Companies involved in imports or international trade may find the exchange rate impact manageable in the short term but need to plan for any sudden volatility.

The market continues to be driven by both local and global factors, and analysts urge caution in managing dollar-based obligations in the near future.