Dollar to Naira Exchange Rate Today, October 25, 2025

The Nigerian currency continued to show mixed performance across different foreign exchange markets on Saturday, October 25, 2025, as the naira held steady at the official rate but remained weak in the parallel (black) market. The persistent gap between the two rates highlights ongoing liquidity challenges in Nigeria’s forex market.

Official Market Rate (CBN / I&E Window)

At the Nigerian Foreign Exchange Market (NFEM), also known as the Investors and Exporters (I&E) window, the US dollar traded around ₦1,460 per $1, maintaining the same level recorded earlier this week.

This stability is linked to Central Bank of Nigeria (CBN) interventions aimed at controlling volatility and ensuring steady access for businesses and investors.

Parallel Market (Black Market) Rate

Across major commercial areas in Lagos, Abuja, and Port Harcourt, the dollar to naira exchange rate traded between ₦1,495 and ₦1,520 per $1 on Saturday morning.

Reports from currency traders show that some transactions occurred as high as ₦1,520/$1, setting the average black-market price near ₦1,505 per dollar.

This rate difference continues to affect importers, travelers, and individuals paying for services in foreign currencies.

Impact on Businesses and Consumers

• Importers using official FX windows will likely continue transacting near ₦1,460/$1, helping them reduce forex costs.
• Individuals buying cash dollars for travel, tuition, or online transactions will face higher conversion rates around ₦1,505/$1.
• The persistent rate gap contributes to rising inflation on imported goods such as electronics, spare parts, fuel additives, and raw materials.
• The weaker street rate also affects remittance value, reducing the purchasing power of Nigerians receiving funds from abroad.

Reasons for the Exchange Rate Gap

The difference between the official exchange rate and the black-market rate remains wide due to:
• Limited official dollar supply through banks and licensed dealers.
• Persistent demand for foreign currency for import and business transactions.
• Market sentiment and speculation against the naira.
• CBN’s policy focus on maintaining stability in the official window despite heavy demand pressure elsewhere.

Analysts note that CBN’s interventions, including dollar injections through the NFEM, have helped maintain stability in the official window, but rising demand in the informal market keeps the parallel rate high.

Market Forecast and Analysts’ View

Financial experts predict that the naira’s short-term movement will depend on:
• CBN’s weekly forex intervention levels.
• The pace of foreign inflows from oil exports and diaspora remittances.
• Global factors such as US dollar strength and international interest rate trends.

If the CBN increases foreign exchange supply to authorized dealers, the naira could firm up slightly. However, continued cash demand in the parallel market may sustain the premium above ₦1,500 per dollar.

What to Watch

• Official FX turnover reports from the FMDQ platform.
• Any new CBN circulars or policy directives on forex management.
• International oil price movements and their impact on Nigeria’s reserves.

A stronger inflow from crude oil revenue and improved investor confidence could support naira appreciation in the coming weeks.

Summary of Dollar to Naira Exchange Rates (October 25, 2025):
• Official Market Rate (I&E Window): ₦1,460/$1
• Parallel Market Rate: ₦1,495 – ₦1,520/$1
• Average Black Market Price: ≈ ₦1,505/$1