Dollar to Naira Rate Today – 4 November 2025 | Latest Exchange Rate Update
Yenagoa, Nigeria (Reflector TV) — The Dollar to Naira rate for today, Tuesday, November 4, 2025, shows the Nigerian currency struggling to maintain stability as both the official and parallel market (black market) rates fluctuate slightly across trading platforms.
Official Dollar to Naira Rate Today
According to data from the Central Bank of Nigeria (CBN), the official exchange rate on Monday, November 3, 2025, closed at ₦1,436.34 per $1. This figure represents a marginal drop from the previous week as the naira continues to face pressure from limited foreign exchange supply.
The Investors’ and Exporters’ (I&E) window, which remains the main official FX trading channel, recorded intraday rates ranging between ₦1,432 and ₦1,445 per dollar.
Parallel Market (Black Market) Dollar to Naira Rate
At the parallel market, popularly known as the black market, traders in Lagos and Abuja reported buying the dollar at ₦1,435 and selling between ₦1,450 – ₦1,455 per dollar on Tuesday morning.
Data from Abokifx and NairaToday confirmed that market volatility continues, with minimal movement from yesterday’s figures.
Dollar to Naira Mid-Market Rate
Independent currency data from Wise.com and TradingEconomics show that the mid-market rate stands around ₦1,450.73/$1, highlighting the persistent gap between official and street rates.
Analysts attribute the rate spread to the ongoing scarcity of foreign exchange liquidity, as well as speculative trading behavior among black-market operators.
What’s Driving the Naira’s Performance?
Economic analysts point to several factors influencing the Dollar to Naira rate today:
- Limited FX Liquidity: The supply of dollars from official sources remains tight, forcing importers and travelers to patronize the black market.
- Oil Revenue Fluctuation: Nigeria’s crude oil export earnings have not yet stabilized, reducing inflows into the country’s foreign reserves.
- Policy Constraints: Despite reforms by the Central Bank to unify exchange windows, traders say uncertainty still lingers in the market.
Impact on Nigerians and Businesses
The continued weakness of the naira means higher import costs, rising inflation, and reduced purchasing power for average Nigerians. Businesses dependent on foreign raw materials or equipment are already passing the additional costs to consumers.
Travelers and students abroad are also feeling the pinch as foreign exchange demand continues to outweigh supply.
Analyst Outlook
Market experts suggest that unless the CBN introduces stronger interventions or inflows increase from oil exports and diaspora remittances, the naira may hover around ₦1,440 – ₦1,460 per dollar in the short term.
However, optimism remains that ongoing fiscal measures could stabilize the exchange rate before the end of Q4 2025.
