Exchange rates today, Tuesday, November 11, as dollar appreciates against naira
The naira traded modestly weaker on Tuesday, November 11, 2025, as Nigeria’s official Daily Foreign Exchange Market (NFEM) closed around ₦1,436.58 per US dollar, according to the Central Bank of Nigeria (CBN).
In the parallel or black market, dealers in Lagos and other commercial cities quoted the dollar between ₦1,445 (buy) and ₦1,469 (sell).
Spot reports showed most trades occurring around ₦1,460–₦1,465, while a few dealers offered up to ₦1,515 in some areas.
Wider gap between official and parallel rates
The premium between the NFEM and parallel market rates widened to about ₦28–₦30 per dollar. Analysts said this gap reflects limited foreign exchange inflows and persistent demand outside official channels.
Commercial banks and authorised dealers continued to rely on NAFEX/NAFEM and I&E window rates for corporate transactions.
Daily counter sheets showed interbank quotes around the mid-₦1,440s, with Citibank’s bulletin listing rates between ₦1,442 and ₦1,448 on November 10.
Analysts blame weaker inflows and high demand
Market analysts noted that weaker foreign exchange liquidity — down by about 15.7% this week — contributed to the naira’s soft performance.
They also cited strong demand from importers and for invisible payments as key factors keeping pressure on the local currency.
Until official inflows improve, experts predict that the gap between official and parallel market rates will likely persist.
Impact on buyers and businesses
Small buyers should expect to pay the parallel market rate (₦1,445–₦1,469) when banks cannot provide cash.
Corporates using I&E or NAFEX windows will access slightly firmer institutional quotes around the mid-₦1,440s, depending on documentation and bank access.
