DOLLAR TO NAIRA EXCHANGE RATE TODAY — OCTOBER 1, 2025
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The Nigerian naira exhibited a slight mix of performances on Wednesday, demonstrating modest advancements in the parallel (street) market alongside mild depreciation in the official foreign exchange window.
In the parallel market, the naira experienced a slight strengthening, concluding at ₦1,500 per US dollar, an increase from ₦1,505 traded earlier in the week.
This trend reflects renewed activity among independent dealers and a marginal improvement in dollar supply.
Within the Nigerian Foreign Exchange Market (NFEM), the naira faced a slight depreciation, finishing at ₦1,478 per US dollar, down from ₦1,480.15 the previous day.
Consequently, the disparity between the parallel and official rates reduced to approximately ₦22, down from around ₦25 earlier.
Against other major currencies:
In the parallel market, the pound sterling was traded near ₦2,075, while the euro exchanged around ₦1,665.
In the official window, the pound was quoted at ₦2,030.50 and the euro at ₦1,620.45.
(These fluctuations reflect the pattern of modest divergence between the official and informal segments of the foreign exchange market. )
Analysts attribute the slight rebound in the street market to enhanced dollar inflows from diaspora remittances, independent supply channels, and seasonal trade receipts. However, demand pressures remain robust—numerous corporations, importers, students, and travelers continue to rely on the parallel market to fulfill obligations not entirely serviced by the formal window.
Meanwhile, the official market remains supported by interventions from the Central Bank of Nigeria (CBN), which help to mitigate volatility. The narrowing spread indicates that recent policy adjustments and foreign exchange reforms may be gradually aligning the two markets.
Looking ahead, traders anticipate the dollar to trade within the ₦1,495 to ₦1,505 range in the parallel market, provided that dollar supply remains stable. The CBN is also expected to continue targeted foreign exchange interventions aimed at minimizing sharp fluctuations and enhancing market confidence.
While the short-term dynamics are promising, the sustainable stability of the naira will rely on structural measures—such as boosting non-oil exports, attracting substantial foreign direct investment, enhancing foreign exchange market liquidity, and maintaining consistent macroeconomic discipline.
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