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Naira Under Pressure As Dollar Hits ₦1,470 In Parallel Market
According to Ireporter Online, the exchange rate between the US dollar and the Nigerian naira showed slight fluctuations in the parallel market on Friday, November 21, 2025. Information obtained from currency traders at the Lagos black market indicated that the dollar was sold at ₦1,470 and bought at ₦1,460, reflecting the prevailing rates offered by Bureau De Change operators.
Financial observers continue to note that the Central Bank of Nigeria does not officially acknowledge transactions conducted within the parallel market and has repeatedly urged individuals seeking foreign exchange to use regulated banking channels. Meanwhile, data monitored on official platforms showed that the dollar traded between a high of ₦1,462 and a low of ₦1,453 at the CBN window.
Industry analysts caution that forex prices may vary across different locations and traders, meaning buyers and sellers could encounter slightly different rates than those reported.
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