The British pound traded at approximately ₦1,895 against the Nigerian naira in official markets on Thursday, November 13, 2025.

This figure reflected the ongoing market dynamics as participants assessed the demand for foreign currency.

In comparison, dealers in the parallel, or street, market quoted prices ranging between ₦1,900 and ₦1,930 per £1, which signaled a notably small gap between the official and informal rates.

Market trackers reported the official mid-market reference rate from the NFEM / CBN as “₦1,894.78 per £1”.

Concurrently, parallel market aggregators reported typical buy/sell quotes, which they estimated as “Buy ₦1,900 — Sell ₦1,930 per £1” for the street rate. Furthermore, online mid-market snapshots and currency sites offered quotes roughly between ₦1,889–₦1,893 per £1, tracking platforms that pull from live orderbook and forex feeds.

The pound/naira exchange rate has been trading in a narrow band this week, following earlier volatility observed throughout November.

Most price updates on November 12–13 showed only modest day-to-day changes, a pattern influenced by sustained foreign inflows and continued central-bank foreign exchange operations that affect market liquidity.

Analysts have observed that “the gap between official NFEM-derived rates and parallel quotes has narrowed compared with wider divergences seen earlier in the year.”

For businesses, a rate near ₦1,895 in the official NFEM helps firms that can access formal FX windows plan costs, though “companies relying on the parallel market still face higher bills if they cannot access official liquidity.”

Finally, for individuals, including those receiving remittances or buying foreign currency for travel, “individuals receiving pounds or buying foreign currency for travel will generally get better value via formal channels at the NFEM rate where available; street rates remain relevant for quick cash needs.”