LAGOS – The Nigerian Naira maintained a relatively stable position against the US Dollar on Thursday, November 6, 2025, trading within a narrow band across different market windows.
According to financial data, the official exchange rate on the Daily Nigerian Foreign Exchange Market (NFEM) was ₦1,439.90 per dollar. Simultaneously, in the parallel market, often referred to as the black market, the dollar was being bought at around ₦1,450 and sold for between ₦1,460 and ₦1,469.
This trading pattern indicates a continued period of stability for the national currency. The small gap between the official and parallel market rates—a premium of about 2%—is seen by analysts as a sign of improving cohesion in the foreign exchange market. This stability is largely attributed to recent policy interventions by the Central Bank of Nigeria (CBN) aimed at managing liquidity and supporting the Naira.
A stable and converging exchange rate is crucial for importers, small businesses, and individuals receiving foreign remittances, as it reduces uncertainty and helps curb the rising costs of goods and services.
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Disclaimer: This financial information is based on data from public sources and market reporting. Exchange rates are volatile and can change rapidly. CDA News provides this snapshot for informational purposes only and does not offer financial advice.
