Naira to Dollar rate today, November 6, as exchange rates stabilise
The naira maintained stability on Thursday, trading at around ₦1,440 to the US dollar on the official Daily Nigerian Foreign Exchange Market (NFEM).
At the same time, parallel market dealers quoted the greenback between ₦1,450 and ₦1,469.
Slight difference between markets
Data from the NFEM showed an official volume-weighted average price (VWAP) of ₦1,439.90 per dollar.
In contrast, black market traders in Lagos sold dollars for about ₦1,460–₦1,469 and bought at around ₦1,450.
This reflects a narrow premium of roughly 2% between the parallel and official markets.
CBN’s interventions aid market stability
The sustained stability in the exchange rate follows the Central Bank of Nigeria’s recent policy actions and liquidity management steps.
These measures have helped improve interbank flows and limit volatility in the foreign exchange market.
Impact on businesses and investors
A smaller gap between official and parallel market rates benefits importers, small businesses, and remittance users by reducing cost pressures.
It also boosts investor confidence in Nigeria’s currency market. Analysts say the narrowing difference signals improved market cohesion.
Naira shows signs of recovery
After months of volatility earlier in 2025, the naira appears to be regaining strength.
November trading has seen the currency hover around the mid-₦1,400 levels across both markets, supported by better forex inflows and cautious policy measures by the CBN.
