Dollar to Naira exchange rate today, November 12, 2025

LAGOS — The naira traded slightly weaker in both official and parallel markets on Wednesday, November 12, 2025, with the Daily Nigerian Foreign Exchange Market (NFEM/NAFEM) fixing around ₦1,437 per US dollar while Lagos parallel-market dealers quoted the dollar near ₦1,455–₦1,465.

The official NFEM rate — the Central Bank of Nigeria’s volume-weighted benchmark used for large-ticket and corporate flows — was reported at about ₦1,437 to the dollar. Meanwhile, street/parallel-market sellers in Lagos and other commercial hubs were typically selling dollars for about ₦1,455, with some outlets and data services reporting occasional trades up to ₦1,465.

The gap between the official NFEM fixing and parallel-market quotes has persisted this week, leaving a premium of roughly ₦18–₦28 per dollar depending on the source and time of day — a sign of continued demand pressure in cash markets outside formal windows

Market participants said limited FX supply for small cash needs and steady demand from importers and retail buyers kept pressure on street rates, even as institutional windows remained relatively firmer. Analysts and market data providers noted mixed liquidity across trading venues, with the formal NAFEM/ I&E windows handling larger corporate flows while the parallel market continued to set cash prices for everyday buyers.

What this means for consumers and businesses
Individuals needing physical dollars for travel or tuition should expect to pay parallel-market rates (around ₦1,455–₦1,465) where banks cannot supply cash.

Corporates and importers with access and documentation