(DDM) – The Nigerian Naira opened the new week on a relatively stable note in the parallel market, maintaining its position against the United States dollar after a brief appreciation last week.
According to data obtained by Investors King from major Bureau De Change (BDC) operators in Lagos and Abuja, the dollar-to-naira exchange rate stood at ₦1,450 per dollar for buying and ₦1,460 per dollar for selling as of Monday, November 10th, 2025.
Diaspora Digital Media (DDM) gathered that the Naira’s resilience is being supported by increased remittance inflows, steady oil revenue, and reduced speculative trading across major trading centers.
Market analysts said steady dollar supply from oil exports and diaspora remittances has helped meet forex demand and stabilize liquidity in the market.
Between Friday, November 7th and Monday, November 10th, the Naira appreciated by ₦10, moving from ₦1,450 to ₦1,460 in the black market.
BDC traders attributed the sustained balance to consistent inflows from remittances, improved foreign exchange circulation, and moderate import-related demand.
However, official rates from the Central Bank of Nigeria (CBN) remain higher, reflecting the persistent disparity between official and black-market values, a long-standing structural challenge in the Nigerian forex landscape.
Experts say the stability in the Naira’s value can be traced to five major factors:
1. Improved Dollar Supply – Driven by oil exports and steady diaspora inflows.
2. Reduced Speculation – CBN’s strict oversight has curbed panic buying.
3. Moderate Dollar Demand – Import activities have slightly declined.
4. Stable Oil Prices – Brent crude holding around $85 per barrel strengthens reserves.
5. Improved Confidence – Renewed faith in the government’s monetary management.
Economically, this steady exchange rate is a mixed blessing. Importers and consumers benefit from lower import costs, potentially easing inflation pressures.
Investors also gain short-term confidence from forex stability, while students and travelers find tuition and travel expenses more manageable.
However, financial experts caution that long-term stability will depend on sustained non-oil export growth, increased foreign investments, and bridging the gap between the official and black-market rates.
Looking ahead, analysts forecast that the Naira will trade between ₦1,445 and ₦1,465 per dollar in the coming days if the current fundamentals remain unchanged.
This outlook signals cautious optimism for Nigeria’s economy as it navigates the pressures of inflation, forex demand, and global oil market volatility.
