US Dollar Sells For ₦1,460 On Streets As Naira Maintains Steady Rate

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The Nigerian naira held steady at ₦1,441.33 to the US dollar in the Daily Nigerian Foreign Exchange Market (NFEM) fixing on Friday, November 14, 2025.

Naija News reports that the rate was unchanged from Thursday’s opening level, reflecting a calm trading session in the official window.

Parallel Market Stays Stronger

However, the US dollar traded higher on the parallel market. Across major cities, dealers quoted the greenback at:

• ₦1,450 (buy)

• ₦1,460 (sell)

This places the parallel-market premium at ₦18–₦28 above the official fixing.

Black-market rate trackers indicated consistent averages of ₦1,455–₦1,460 between November 13 and 14, showing no major intraday fluctuations.

Why the Gap Persists

Despite the relative stability at the official window, the spread between both markets remained wide.

According to traders and analysts cited by Vanguard, the divergence continues to be driven by pressure outside formal channels, including:

• High cash demand from retail and informal-sector operators

• Short-term hedging by importers

• Limited supply in the street market compared to official inflows

While the official market has seen improved liquidity, the parallel market remains sensitive to spot cash transactions and speculative flows.

Key Factors Influencing Friday’s Performance

Traders highlighted several macroeconomic forces shaping naira movements:

1. Liquidity injections and FX sales by monetary authorities helped stabilise the NFEM rate.

2. Soft global oil prices weakened Nigeria’s FX inflows.

3. Stronger US dollar globally influenced supply-side pressures.

4. Earlier domestic monetary policy easing reduced yields and slowed foreign portfolio inflows.

Market operators added that the Central Bank of Nigeria’s (CBN) periodic interventions have helped limit sharp volatility in the official market.

Outlook: What Will Drive the Naira Next?

With the official rate stable at ₦1,441.33 and parallel rates hovering around ₦1,455–₦1,460, analysts say the naira’s near-term trajectory will hinge on:

• The CBN’s FX liquidity position and future dollar sales

• Oil revenue performance

• Foreign portfolio investor activity

• Importers’ demand and corporate hedging behaviour

Naija News reports that any significant movement in global oil prices—or a major policy statement from the Central Bank—could either narrow or widen the current premium between both markets.