Dollar to Naira exchange rate today, November 22, 2025

The dollar to naira exchange rate on November 22, 2025, in Nigeria’s official Nigerian Foreign Exchange Market (NFEM) is stable around ₦1,450 per US dollar.

Meanwhile, the parallel market (black market) rates show the dollar trading between ₦1,460 (buy) and ₦1,474 (sell), reflecting a persistent premium due to demand and limited foreign exchange inflows. This continued gap between the official and parallel markets impacts importers, consumers, and individuals engaging in remittances or foreign transactions, as the parallel market rates are higher than the official NFEM rates.

Official NFEM Exchange Rate

The official NFEM exchange rate remains steady at about ₦1,450 per US dollar. This rate is a volume-weighted average published by the Central Bank of Nigeria (CBN), based on recorded transactions in the official market. The market monitors observe that the mid-₦1,400 range is sustaining with liquidity constraints and policy interventions influencing stability.

Parallel Market Rates
In Lagos and other key commercial centers, the parallel market rates trade slightly higher, with the dollar buying price around ₦1,460 and selling price up to ₦1,474. The parallel market premium exists due to strong demand from importers, retail FX users, and remittance activities occurring outside official channels.

Market Implications
Importers face higher costs when sourcing dollars from the parallel market, potentially increasing the price of imported goods.

Consumers might experience inflationary pressure due to costlier imports.

Individuals exchanging currency informally get fewer naira per dollar, increasing the cost of travel, education abroad, and personal transfers.

Despite the Central Bank of Nigeria’s policy rate cuts and FX interventions, the foreign exchange market continues to show a dual-tier pricing system with a clear premium in the parallel market for the dollar against the naira.