DOLLAR TO NAIRA EXCHANGE RATE, OCTOBER 8, 2025
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The naira experienced a decline in value on Wednesday as the official market and parallel rates diverged. The volume-weighted rate in the Nigerian Foreign Exchange Market (NFEM)/Central Bank of Nigeria (CBN) was approximately ₦1,465 per US$1, whereas parallel-market observers reported the black-market rate close to ₦1,490–₦1,495 per US$1.
Analysts and market analyses indicate that this disparity is indicative of persistent demand for dollars from importers and corporate entities, coupled with the limited immediate intervention by the CBN and alterations in liquidity following recent market activities. Market observers noted that the naira weakened over the past two sessions as eligible foreign exchange users increased their requests for dollars.
Global and policy context is also relevant. The CBN cut its policy rate in late September as inflation eased — a development market participants say is affecting FX flows and interest-rate differentials that influence demand for dollars.
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