As of November 3, 2025, the Naira’s exchange rates against major currencies exhibited mixed performance across key market segments, according to data from the Central Bank of Nigeria (CBN), LEMFI, and REMITLY.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM)/official market, the naira appreciated by 0.25% to close at ₦1,427.50/$1 on October 31, up from ₦1,431/$1 on October 30, reflecting a modest recovery of ₦3.50 per dollar, per CBN data.
In the parallel market, data from NgnRates.com and Abokiforex show that the Dollar crashed against the naira dropping as much as N40, from N1,500/$1 (Sell) beginning of last week to N1,460/$1 (Sell) at close on Friday.
In the International Money Transfer Operators (IMTO) segment, sourced from LEMFI and REMITLY, the naira weakened marginally against the US dollar by 0.07% to ₦1,459/$1 on November 3, down from ₦1,460/$1 on October 31, a depreciation of ₦1.00.
The naira depreciated against the Great British Pound by 0.26% to ₦1,932/£1 from ₦1,927/£1, marking a decline of ₦5.00 per pound. Against the Euro, the naira strengthened slightly by 0.18% to ₦1,688/€1 from ₦1,691/€1, gaining ₦3.00.
The naira also weakened against the Canadian Dollar by 0.48%, moving to ₦1,043/CAD from ₦1,048/CAD, a drop of ₦5.00.
Meanwhile, Nigeria’s external reserves rose by 0.06% to $43.173 billion as of October 30, up from $43.147 billion on October 29, indicating continued gradual accumulation and enhanced foreign exchange buffer stability.
