Naira Exchange Rate Today: The Nigerian naira experienced mixed fortunes across foreign exchange windows, gaining ground at the official market while losing value in the parallel market.
Data from the Central Bank of Nigeria (CBN) and market operators show that the local currency appreciated at the Nigerian Foreign Exchange Market (NFEM), moving to ₦1,331.50 per dollar compared to ₦1,332.90 in the previous session. This ₦1.40 markup highlights ongoing adjustments within the official window.
Conversely, trading in the parallel market saw the naira weaken slightly, sliding to approximately ₦1,362 per dollar from ₦1,357. This divergence expanded the spread between the official and parallel market rates to ₦30.50 per dollar, up from ₦24.10.
Liquidity Surge at the Interbank Window
Driving the momentum in the official segment was a massive expansion in market activity. NFEM interbank turnover surged by 334.8 percent, climbing to $313.6 million from $72.12 million.
Financial analysts note that the notable spike in liquidity reflects heightened participation from businesses, foreign investors, and corporate entities actively realigning portfolios in response to shifting macroeconomic liquidity and underlying demand.
Parallel market rates continue to experience localized variance depending on transaction size, physical location, and individual dealers, as market watchers monitor regulatory interventions and liquidity trends heading further into the final quarter of the year.
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