Black Market Dollar (USD) to Naira (NGN) Exchange Rate Today, November 25, 2025

The Nigerian naira traded around ₦1,456 to the US dollar in the official Daily Nigerian Foreign Exchange Market (NFEM) on Tuesday, November 25, 2025, while the parallel (black) market quoted the greenback at about ₦1,455–₦1,465.

Key numbers

NFEM (official/VWAP) — Roughly ₦1,456 per $1.

Parallel/black-market — Dealers reported buying around ₦1,455 and selling near ₦1,465.

Market snapshot

Trading on the NFEM remained close to last week’s levels as foreign-exchange inflows slowed but remained adequate to support the volume-weighted official rate. Observers say the gap between the official window and the cash/parallel market has compressed slightly this week but still signals persistent retail demand outside formal channels.

Why the naira is behaving this way

Analysts point to a mix of factors: weaker weekly dollar inflows into the formal FX market, continued retail demand in the parallel market, and the impact of earlier monetary policy moves by the Central Bank of Nigeria (CBN). The CBN’s September policy rate cut and subsequent liquidity changes have helped stabilise broader market conditions, even as daily dollar supply fluctuates.

What this means for Nigerians

Remittances and small businesses: Consumers sending or receiving cash through informal channels will continue to feel the parallel-market spread — paying or receiving at rates that are typically at a premium (or discount) to the NFEM rate.

Importers and corporates: Firms that access FX through formal windows should expect prices close to the NFEM/VWAP figure, but limited dollar availability at times can push some demand into the parallel market, raising costs for imported inputs.

Traders say the near-term direction of the naira will depend on weekly dollar inflows, CBN operations in the FX and money markets, and seasonal demand trends as the year-end approaches. If inflows pick up and the CBN maintains liquidity support, the official rate may hold steady; otherwise, retail pressure could push parallel quotes higher.

Hafsoh Isiaq

Hafsoh Isiaq is a graduate of Linguistics. An avid writer committed to creative, high-quality research and news reportage. She has considerable experience in writing and reporting across a variety of platforms including print and online.

Related posts:

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today – Wednesday, 5th November 2025 Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, November 8, 2025 Black Market Dollar (USD) to Naira (NGN) Exchange Rate Today, Thursday, November 13, 2025 Black Market Dollar ( USD) To Naira (NGN) Exchange Rate Today, November 21, 2025