The Nigerian naira held steady at the Daily Nigerian Foreign Exchange Market (NFEM) on Friday, trading at about ₦1,441.33 to the US dollar.
The rate stayed the same from the morning session and showed no major movement.
In the parallel cash market, traders sold the dollar for around ₦1,460 and bought it for about ₦1,450 in major cities. This left a gap of roughly ₦18 to ₦28 above the NFEM level.
Black-market trackers recorded average rates near ₦1,455 to ₦1,460 between November 13 and 14.
Why the gap remains
The difference between official and parallel prices has continued this week due to rising cash demand outside formal channels.
Importers seeking short-term cover have also kept the parallel market stronger than the NFEM.
Analysts noted that pressure in informal markets persists even as official liquidity improves.
Market drivers
Traders linked the naira’s movement to liquidity support and FX sales by authorities, which keep the NFEM rate firm.
They also pointed to softer global oil prices and shifting dollar trends that influence foreign currency flows.
Earlier monetary policy easing has changed yields and affected portfolio activity. The Central Bank’s recent actions and occasional interventions have helped limit sharp swings.
Outlook for the coming days
With the NFEM rate around ₦1,441 and parallel prices near ₦1,455 to ₦1,460, traders said the next direction will depend on several factors.
These include CBN FX liquidity, dollar sales to the market, inflows from oil earnings, and foreign portfolio moves. Demand from importers and corporate hedging will also play a role.
Any major change in global oil prices or a new CBN policy step could either reduce or widen the current premium.