US Dollar Sells For ₦1,460 On Streets As Naira Maintains Steady Rate
On November 14, 2025, the Nigerian naira remained stable at ₦1,441.33 against the US dollar in the official NFEM market. However, the parallel market saw higher rates, with dealers quoting between ₦1,450 and ₦1,460. This created a gap, driven by factors like cash demand and importer hedging. Analysts attribute the divergence to pressure outside official channels, despite the Central Bank's interventions that maintained official market stability. The naira's future direction depends on CBN's FX liquidity, oil revenue, foreign portfolio activity, and importers' demand. Global oil price movements and new CBN policies could further impact the difference between official and parallel market rates.
Sentiment: Positive (
0.41
)
Bias: Neutral
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Verified on Nov 14, 2025