Dollar to Naira exchange rate today, October 9, 2025

The naira remained broadly stable on Thursday as Nigeria’s official market (NFEM) and the Central Bank (CBN) rates hovered around the mid-₦1,400s while the parallel market quoted higher prices — widening the gap that matters for traders, importers and Nigerians receiving remittances.

Today’s rates:
NFEM (market VWAP/official market): ₦1,471.36 / $1

CBN official reference/published figure: ₦1,469 / $1

Parallel/AbokiFX (black market): Sell ₦1,500 | Buy ₦1,480 per dollar

The gap between the NFEM/CBN rate and the parallel market sits at roughly ₦29–₦31 per dollar today — a key measure of market segmentation and dollar access pressure for ordinary Nigerians.

Why the naira is trading here

CBN policy and liquidity: The CBN’s recent policy easing — including a 50 bps cut to the benchmark rate in late September — and steps to improve FX liquidity have helped stabilise the official market. Analysts say easing inflation and improved reserves also supported the mid-₦1,400s levels.

Demand on parallel market: Local demand for cash dollars (travel, importers, and informal remittances) keeps AbokiFX and black-market quotes higher than official levels. That spread persists despite narrower gaps reported this week.

What is the impact and who should watch this?

Remitters and families: Money sent from abroad will fetch more or less depending on whether the recipient converts at an official or parallel rate. Expect lower value if forced to use parallel vendors.

Importers and businesses: The NFEM (VWAP) remains the benchmark for bulk FX allocation; businesses relying on official allocation should monitor daily NFEM movements closely.

Travellers and consumers: Cash travellers and consumers buying FX at informal venues will likely pay AbokiFX/parallel rates today. Plan budgets accordingly.

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