The exchange rate between the British Pound (GBP) and the Nigerian Naira (NGN) remained relatively stable on Friday, November 28, 2025, as the market responded to early festive season demand and steady remittance inflows.
According to real-time data from the foreign exchange markets, the British Pound is trading at an average of N1,912 to N1,925 to the pound on Friday. This reflects a continued convergence between the official Nigerian Foreign Exchange Market (NFEM) rates and the parallel market, a trend that has defined the fourth quarter of 2025.
Market Performance
At the parallel market, often referred to as the black market, currency dealers in Lagos and Abuja are quoting buying rates around N1,910 and selling rates near N1,925 per pound. This represents a marginal fluctuation from Thursday’s close, showing resilience despite the increased pressure typically seen as businesses stock up for the December holidays.
Data from financial analytics platforms indicates that the mid-market rate currently hovers around N1,914. Meanwhile, data from international money transfer operators shows rates fluctuating between N1,910 and N1,920, offering competitive options for the diaspora community sending funds home.
Key Drivers
Market analysts attribute the current stability to improved liquidity from diaspora remittances, which have surged ahead of the Christmas celebrations. Snippets from market reports earlier this week highlighted that while demand for foreign currency—particularly the US Dollar and British Pound—has ticked up due to retail imports, supply channels have remained robust enough to prevent sharp volatility.
Additionally, the relative stability of the US Dollar, which was trading around N1,460 in the parallel market earlier this week, has helped anchor cross-rates for the Pound. The synergy between the official and parallel markets continues to reduce the arbitrage gap that historically plagued the Nigerian forex system.
Outlook
Traders advise that while the rates are currently stable, the coming weeks could see slight adjustments as the holiday rush intensifies. However, with crude oil prices holding above budget benchmarks and supporting foreign reserves, the immediate outlook for the Naira against the Pound remains cautiously optimistic.
For travellers and businesses, the recommendation remains to monitor rates closely, as intraday volatility can still occur in the unregulated segments of the market.
Pound to Naira exchange rate today, November 28, 2025
