Dollar/Naira Exchange Rate Report - Friday, November 7, 2025

Dollar/Naira Exchange Rate Report – Friday, November 7, 2025
Black-market rate ranged from ₦1,455 (buy) to ₦1,515 (sell).
Rate divergence reflects ongoing pressure on foreign exchange and liquidity.

The Nigerian naira exhibited mixed movement on Friday as the dollar maintained strength across both official and black-market windows. According to official data from the Central Bank of Nigeria (CBN), the mid-market rate hovered around ₦1,433 per US $1.

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EKO HOT BLOG reports that in parallel markets, however, the greenback fetched significantly higher with an average of about ₦1,455 for buying and up to ₦1,515 for sale.

Below is a summary of key rates for Friday

Exchange Window	₦ per US $1
Official (CBN/NFEM)	₦1,433
Black Market (Buy)	₦1,455
Black Market (Sell)	₦1,515

Market Implications & Outlook
Despite regulatory efforts to unify the foreign-exchange market, the divergent rates underscore persistent liquidity constraints and offshore demand for the dollar. The relatively low official rate suggests that the apex bank is still intervening to moderate headline FX levels. Meanwhile, the elevated black-market rate reflects unmet demand in the parallel channel and the spread between regulated and informal markets.

For importers, exporters and households holding foreign obligations, the disparity between official and parallel rates means higher hedging costs and increased uncertainty. Should global dollar demand rise or local FX inflows decline, pressure on the naira may persist. The government and central bank will likely maintain interventions to stabilise the official window while working to closer align both segments.