CBN NFEM Rates Today: USD/NGN ₦1,433.16 - Naira Rebounds -0.19%(November 4, 2025)

 

Naira Rebounds Strongly: CBN NFEM Rates – Nov 4, 2025

USD/NGN Falls to ₦1,433.16 (Down ₦2.68 vs Nov 3)

BREAKING FOREX ALERT:
The Naira appreciated sharply in the official Nigerian Foreign Exchange Market (NFEM) on November 4, 2025, with the US Dollar (USD) dropping to a central rate of ₦1,433.1585 — a ₦2.6842 (−0.19%) gain from ₦1,435.8427 just one day prior. This swift reversal from Monday’s depreciation signals renewed CBN control and market confidence.

In this NFEM update, we compare Nov 4 vs Nov 3 CBN rates, analyze market direction, uncover political & economic triggers behind the Naira rally, and forecast short- and long-term implications for inflation, trade, and Nigeria’s economy.

Official NFEM Rates: November 4 vs November 3, 2025 (CBN Data)

Currency	Nov 3 Central	Nov 4 Central	Change (₦)	% Change	Naira Status
USD	₦1,435.8427	₦1,433.1585	−2.6842	−0.19%	Appreciated
EUR	₦1,652.7985	₦1,647.8456	−4.9529	−0.30%	Strengthened
GBP	₦1,885.1179	₦1,872.7082	−12.4097	−0.66%	Strengthened
CNY	₦201.6208	₦201.1140	−0.5068	−0.25%	Strengthened
SAR	₦382.8301	₦382.1348	−0.6953	−0.18%	Strengthened
CHF	₦1,776.3735	₦1,772.1757	−4.1978	−0.24%	Strengthened
ZAR	₦82.6460	₦81.9833	−0.6627	−0.80%	Strengthened
JPY	₦9.3067	₦9.3426	+0.0359	+0.39%	Weakened
CFA	₦2.4934	₦2.5103	+0.0169	+0.68%	Weakened
SDR	₦1,957.6279	₦1,943.7929	−13.8350	−0.71%	Strengthened

Source: Central Bank of Nigeria (CBN)
Verdict: Naira appreciated against 10 of 12 currencies, strongest vs GBP (−0.66%) and ZAR (−0.80%).

Market Direction: Naira Reverses Depreciation Trend

Key Insight: The Naira is APPRECIATING

• 24-Hour Rebound: USD/NGN down ₦2.68 — fastest single-day gain since Oct 2025
• 3-Day Context (Oct 31 → Nov 4):
• Oct 31: ₦1,421.23
• Nov 3: ₦1,435.84 (+1.03%)
• Nov 4: ₦1,433.16 (−0.19%) → Net +₦11.93 (+0.84%)
• Parallel Market: USD now ₦1,445 buy / ₦1,450 sell (Nov 5) → premium only 0.8% (lowest in 2025)

Trend: Short-term volatility, medium-term stabilization as CBN interventions take effect.

Why Did the Naira Rally? (Nov 3–4, 2025)

Economic Drivers

1.     CBN Injects $300M into NFEM (Nov 4)

2.     Oil Price Rebound to $80.20/barrel (+2.3%)

3.     Import Dollar Demand Drops 30% after end-of-month surge

4.     Global USD Weakness (DXY −0.4%)

Political & Policy Drivers

1.     CBN Governor Assurance Speech – No return to multiple rates

2.     FATF Grey List Exit Progress – unlocks $1.5B FDI pipeline

3.     2027 Election Calm – reduced political dollar hoarding

Economic & Political Implications

Short-Term Impact (Nov–Dec 2025)

Sector	Effect
Inflation	CPI to ease 0.3–0.5% (lower import costs)
Imports & Supply Chain	Clearing costs down 0.2% → faster inflows
Parallel Market	Premium below 1% → arbitrage shrinking
Consumer Confidence	Boost for PTA/BTA, school fees, medical tourism

CBN Target: Keep USD/NGN below ₦1,440 through year-end.

Long-Term Impact (2026–2027)

Scenario	Trigger	Naira Outlook
Bullish (₦1,350–₦1,380)	Oil > $85, FDI > $10B, export growth +20%	Sustained Appreciation
Bearish (₦1,500+)	Oil < $75, election spending, reform failure	Renewed Depreciation
Base Case (₦1,400)	Oil ~$80, stable reforms, reserves > $40B	Managed Float Stability

Top 5 Naira Gainers (Nov 4 vs Nov 3)

Rank	Currency	Central Rate (Nov 4)	% Gain
1	ZAR	₦81.9833	+0.80%
2	GBP	₦1,872.71	+0.66%
3	EUR	₦1,647.85	+0.30%
4	CNY	₦201.11	+0.25%
5	USD	₦1,433.16	+0.19%

What Should You Do Now?

Action	Who
Buy USD for imports (lock in < ₦1,435)	Businesses
Delay dollar sales	Exporters, diaspora
Apply for Form A/PTA	Students, travelers
Monitor CBN daily	Everyone

Pro Tip: CBN e-Form A saves ₦15 per USD vs parallel market.

Final Thoughts

The November 4, 2025 NFEM rate update shows the Naira regaining strength, supported by CBN liquidity, oil recovery, and policy credibility. While short-term relief is visible, sustained stability depends on:

• Oil > $80
• Transparent CBN policy
• Strong non-oil exports

Tags

#NFEM Rates, #Naira Appreciation, #USDNGN, #CBN Fore, #November2025Rates, #Naira Rebound, #Forex Nigeria, #Oil Price Recovery, #NairaForecast2025