The naira traded in the mid-₦1,400s on official Nigerian Foreign Exchange Market (NFEM) platforms on Friday while the parallel (black) market continued to price the dollar notably higher, around ₦1,480–₦1,500 to the dollar, keeping the premium between official and street windows near ₦25–₦40.
Key rates
NFEM (official VWAP / CBN-derived rate): ₦1,470–₦1,475 per $1. This is the volume-weighted average used as the official daily NFEM rate.
Central Bank / interbank listings (recent reference levels): ₦1,460–₦1,475 per $1. (Historic daily CBN/exchange tables show mid-₦1,400s levels through mid-October).
Parallel / black market (Aboki / Abokifx / crowd-sourced trackers): ₦1,480–₦1,500 per $1.
What moved the naira this week
Dealers and market commentators say the gap persists because official windows continue to receive constrained dollar supplies even as demand from importers and portfolio flows fluctuate. Foreign investors offloading local assets and limited central bank dollar provisioning were highlighted as near-term pressures in market reports.
Market impact — what it means
Importers & corporates: Higher parallel rates lift cost pressures when dollars are sourced outside official windows.
Remittances: Recipients relying on informal channels may see better conversion on the parallel market but greater volatility.
Consumers: The spread keeps upward pressure on prices of dollar-priced goods and services.
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