The naira remained stable on Wednesday, November 5, 2025, with the U.S. dollar trading between ₦1,430 and ₦1,445 at the official Nigerian Foreign Exchange Market (NFEM).
At the parallel (black) market, traders bought the dollar at around ₦1,435 and sold between ₦1,450 and ₦1,459, showing only a slight difference from official rates.
Market analysts attributed the stability to improved liquidity, steady inflows from foreign investors and exporters, and sustained intervention by the Central Bank of Nigeria (CBN).
They also linked the calm market to recent monetary policy adjustments, including the September interest rate cut, which helped ease inflationary pressure and boost investor confidence.
According to currency dealers, dollar supply has improved compared to previous weeks, while demand has become more predictable.
“There’s more balance now. People are not hoarding dollars as much as before,” one trader said.
Economists noted that the CBN’s efforts to clear foreign exchange backlogs have strengthened transparency and restored confidence in the market.
However, they warned that external factors — such as declining oil revenues, global inflation, and potential capital outflows — could still pose risks to the naira in the months ahead.
They urged the federal government to sustain fiscal discipline, promote non-oil exports, and boost local production to reduce pressure on the currency and support long-term stability.
