Daily FX Rate: Naira Lost N5.60 per US Dollar at Official Market
The naira lost ₦5.60 per US dollar transaction at the Nigerian foreign exchange market to close at ₦1,448.0304 as demand pressures linger.
A daily FX update released by the Central Bank showed that the local currency traded within a range of ₦1,450.25/$ and ₦1,440.00/$ during the session as supply conditions worsened.
The naira value decline was driven by demand from positions seeking market participants, said AIICO Capital Limited in a note.
The market anticipates the Central Bank of Nigeria (CBN) to pump US dollar into official FX market to reduce US dollar demand pressures. The authority injected $50 million into official window last week but the support failed to redirect exchange rate.
Meanwhile, Nigeria’s gross external reserves rose by $105.1 million (d/d) to close at $43.64 billion as of November 14, 2025 amidst uncertainties in the global commodity market.
Oil fell on Monday as loadings resumed at Russia’s Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit by a Ukrainian attack.
Brent crude dipped by 30cents, or 0.47%, to $64.07 per barrel, while U.S. West Texas Intermediate (WTI) receded by 18cent, or 0.30%, to $59.77.
Similarly, gold prices ticked down, pressured by a stronger dollar and reduced expectations of a U.S. interest rate cut next month, as investors awaited delayed economic data this week that could offer clues on the Federal Reserve’s policy path.
Spot gold shed 0.74% to $4,063/oz, while U.S. gold futures dipped by 1.46% to $4,020.04/oz.
Analysts anticipate gold will remain range-bound as markets await key U.S. economic data and further Fed signals, while oil may face renewed pressure if Russia’s export hub remains fully operational, keeping supply fears in check. Dangote Cement Plunges as Investors Trim Shareholding
