Navigating the Dollar-to-Naira Exchange Rate: A Week in Review
The financial landscape of Nigeria witnessed a dynamic week for the USD-NGN exchange rate, with the Naira showcasing resilience amidst market fluctuations. As of November 28, 2025, the official NAFEM market rate stands at N1,444.38 per dollar, a slight dip from the N1,450 mark earlier in the week. This adjustment reflects the ongoing liquidity adjustments within the foreign exchange market.
The Naira's journey this week began with a weekly high of N1,472.26 on November 24, before settling at a weekly low of N1,441.00 on Tuesday. The current trend indicates a 0.5% strengthening of the Naira over the past 24 hours, positioning it firmly in the mid-N1,440s. This positive movement contrasts with earlier pressure experienced by the currency earlier in the month.
The parallel market, often referred to as the 'black' market, mirrors the official rate closely, with street traders reporting an average exchange rate of N1,457.11 for the dollar. While the parallel market rate remains slightly elevated compared to the official rate, the gap is narrower than historical spreads, suggesting the influence of official market liquidity management on street pricing.
Market analysts highlight the week's volatility, with a mixed bag of highs and lows. The Naira's ability to maintain a defensive position above the N1,440 support line at week's end is a positive sign. However, traders caution that the market awaits further Central Bank of Nigeria (CBN) guidance and liquidity injections as December approaches, potentially influencing the Naira's trajectory in the coming weeks.
