Dollar to Naira exchange rate today

The Nigerian naira continued to show signs of stability on Friday, October 3, 2025, trading firmer in the official Nigerian Foreign Exchange Market (NFEM) while holding steady in the parallel (black) market.

Key rates

NFEM (official, volume-weighted): ₦1,455 per US dollar, according to data published for the Nigerian foreign exchange market

Parallel/black market rates were quoted at roughly ₦1,460–₦1,470 per US dollar, with several street and BDC trackers recording a selling price of around ₦1,460.

Market participants said the official market’s firmness reflects improved FX liquidity and continued foreign-exchange inflows in recent weeks, a trend that has helped narrow the gap between the NFEM price and parallel market quotes. Analysts also pointed to broader macro moves — notably the Central Bank of Nigeria’s recent easing of policy — as providing support for the naira.

News wires and exchange aggregators show small variations between data providers (for example, some commercial feeds put the USD/NGN nearer ₦1,470 on the day), underscoring minor intraday differences between platforms and the parallel market. Traders say such spreads are normal as volumes and counterparties differ across the official EFEMS/NAFEM platform and informal channels.

Why it matters

The narrowing gap between official and parallel rates is being watched closely by importers, exporters and foreign investors. A firmer naira at the NFEM reduces the cost of servicing foreign obligations for businesses that access the official market, while lower volatility in the black market eases short-term cash management for households and small traders.

Outlook

Economists say the naira’s near-term trajectory will hinge on continued foreign inflows, crude oil receipts, and whether the Central Bank (and government) sustain policy and liquidity measures that encourage FX market depth. With headline inflation easing and the CBN trimming its policy rate recently, markets are likely to remain sensitive to any new data on reserves, inflows or policy shifts.

Cupped from Vanguard.