The Nigerian naira opens and trades with sustained pressure against the US dollar across the official market (NFEM) and the informal parallel market, with some days showing continued depreciation and one day showing first appreciation at the official rate. Vanguard reports the naira’s opening conditions while describing demand pressure and liquidity constraints, including on November 9-13.
Across the period covered, Daily Post Nigeria and Ghana MMA focus on daily changes in the official exchange rate using CBN-reported figures, highlighting a “highest depreciation” on November 11 and the “first appreciation” on November 12. The official rate figures cited move around the mid-1,300s naira per dollar, while Vanguard’s parallel-market figures point to a wider gap between official and informal pricing. Several reports also describe seasonal year-end demand factors, such as import and travel obligations.
Vanguard repeatedly frames day-to-day movement through liquidity management and persistent demand for foreign currency, while other outlets emphasise the specific day’s direction (depreciation or appreciation) in the official market. Overall, the sources agree on the broad pattern of pressure and the key role of the NFEM versus the parallel market.
