The Nigerian naira traded largely steady on Monday, November 17, 2025. The official Daily Nigerian Foreign Exchange Market or VWAP rate hovered around ₦1,441–₦1,444 to the United States dollar, reflecting continued stability.
Meanwhile, traders in the parallel (cash/black) market quoted the greenback at roughly ₦1,450–₦1,460.
The official NFEM fixing, calculated as a volume-weighted average price, remained near the mid-₦1,400s.
This stability follows recent policy shifts and modest inflows into Nigeria’s FX windows. Market-data providers and financial exchanges showed the USD/NGN pair trading within a narrow intraday range, consistent with the past week’s levels.
In the parallel market, cash traders quoted the dollar slightly higher than the official rate. This gap persists as some importers and SMEs still rely on informal channels for immediate FX needs. Parallel market aggregators and local reporting observed sell offers clustering around ₦1,455–₦1,460.
Analysts point to a combination of factors supporting the relative calm in the foreign exchange market. These factors include continued FX liquidity in formal windows, slowing inflation and a cautious easing stance from the Central Bank that has nudged market sentiment, and inflows into government securities and commodity receipts that have replenished reserves. Major news outlets and market trackers have linked recent stability to these macro developments.
For recipients of remittances, those converting dollars in the formal NFEM window will see rates close to the official mid-₦1,400s. However, those using informal channels may get slightly more (or pay slightly more when selling dollars).
For importers and businesses, the persistent spread between the official and parallel markets means that import costs and working capital pressures can remain elevated for firms unable to access official FX.
For savers and investors, currency stability reduces immediate FX volatility risk. Nevertheless, wider macro and interest-rate trends will drive medium-term FX expectations.
