Naira Strengthens Against Dollar: Exchange Rate Today, November 28, 2025
Nigeria’s currency, the Naira, continued its cautious movement against the US Dollar on Friday, November 28, 2025, as both the official and parallel market rates maintained a narrow trading band despite persistent demand pressures.
Official Market Rate
At the official Nigerian Foreign Exchange Market (NFEM), the Naira traded at an average of ₦1,457.11 per $1. This reflects mild stability over the last 48 hours, with only slight intraday fluctuations as investors and importers continue to monitor policy directions from the Central Bank of Nigeria (CBN).
Market analysts say the stable performance is linked to improved FX liquidity and moderated demand from commercial banks. However, they warn that seasonal demand ahead of the festive period could trigger fresh volatility.
Black Market / Parallel Market Rate
In the parallel market, also known as the black market or Bureau-de-Change (BDC) segment, the Dollar exchanged between ₦1,460 and ₦1,470 per $1 in major cities such as Lagos, Kano, Abuja, and Port Harcourt.
BDC operators reported an early-morning surge in customers seeking dollars for travel and online payments, but supply remained fairly steady, keeping prices within a predictable range.
Why the Naira Is Stable Today
Economic observers note three key factors responsible for today’s exchange rate performance:
1. CBN’s FX management measures
Recent interventions and stricter monitoring of banks’ FX dealings have reduced speculation and hoarding.
2. Improved remittance inflows
With December approaching, Nigeria traditionally sees rising diaspora remittances, boosting Dollar inflow into the economy.
3. Lower demand from importers
Several firms have completed Q4 import transactions earlier in the month, easing mid-week pressure on the Naira.
Outlook
While the Naira has remained relatively stable this week, experts predict slight swings in the coming days as the festive season approaches. Travelers, importers, and businesses relying on foreign transactions are advised to monitor daily rate updates to avoid sudden price shifts.
Summary
-
Official rate: ~₦1,457.11 per $1
-
Black market rate: ₦1,460 – ₦1,470 per $1
- Market mood: Stable but cautious
- Outlook: Possible slight increases in demand-driven volatility
