Currency Under the Microscope
On 12 November 2025, the Nigerian naira was reported to trade at approximately
₦1,437 per US dollar in the official foreign-exchange window, while parallel-market (street) rates hovered around ₦1,455-₦1,465 per US dollar. Vanguard News
Although the movement is modest, the enduring gap between official and parallel markets underscores continuing FX liquidity issues and demand pressure — particularly for imports, travel and cash conversions.
Key Drivers
- Limited dollar supply for retail and small-ticket foreign-exchange flows.
- Ongoing import dependency and global oil price uncertainty.
- Structural issues in Nigeria’s FX regime, despite reforms.
Implications
For businesses and consumers, even small shifts in the naira’s value can raise import costs, fuel inflation and erode purchasing power. The divergence between official and parallel rates also hints at inefficiencies and risk in the FX system.
What to Watch
Policies that improve dollar-inflow (exports, remittances), tighten demand for cash FX, and reduce the gap between formal and informal windows will be critical for stabilising the naira.
Source:
Vanguard News: “Dollar to Naira exchange rate today, November 12, 2025”
