Dollar to Naira exchange rate today, October 15, 2025

Key rates
NFEM / CBN (official, volume-weighted average): Roughly ₦1,460–₦1,468 / $1.

CBN published/reference fig (recent): ₦1,462–₦1,463

Parallel / black-market (retail dealers): Buy ₦1,485 — Sell ₦1,505

What happened today

The naira traded somewhat weaker crossed Nigeria’s FX windows connected Wednesday, October 15, 2025. Official marketplace quotes derived from the Daily Nigerian Foreign Exchange Market (NFEM) remained successful the mid-₦1,400s band, portion parallel-market dealers continued to terms the dollar notably higher — a dispersed of astir ₦20–₦45 betwixt authoritative and black-market midpoints.

Global currency moves besides played a part. The U.S. dollar weakened against respective large currencies connected October 15 arsenic markets priced successful imaginable Fed complaint cuts aboriginal successful the month, a origin that moderated upward unit connected emerging-market currencies, including the naira.

Why the dispersed remains

1. Liquidity differences: NFEM (the official, volume-weighted market) reflects transactions by banks, authorised dealers and authoritative flows; the parallel marketplace reflects retail request and short-term liquidity gaps, hence the persistent premium.

2. Policy and reserves: The Central Bank’s published/reference rates are utilized by banks and businesses for pricing and transfers — they thin to determination little abruptly than parallel rates erstwhile proviso tightness appears. Recent CBN notation figures person sat successful the precocious ₦1,400s.

3. Global drivers: International developments — including U.S. complaint expectations and commercialized tensions — power offshore dollar flows and marketplace sentiment, which filter done to section FX windows.

Short-term outlook

Expect humble volatility successful the coming days arsenic importers, firm end-users and diaspora flows interact with CBN interventions and planetary FX sentiment. Analysts monitoring FMDQ/NAFEX flows and CBN liquidity operations volition ticker whether the authoritative model narrows the spread with parallel quotes.

What this means for Nigerians

Importers and corporates: Budget for costs utilizing authoritative NFEM quotes (₦1,460–₦1,468) for slope transactions but beryllium alert that purchasing dollars extracurricular ceremonial channels volition outgo materially more.

Consumers / travellers: Cash-exchange rates connected the thoroughfare (parallel) stay higher — expect astir ₦1,485–₦1,505 per $1 if utilizing informal dealers. Shop astir and similar bank/transfer channels wherever possible.

Remittances: Beneficiaries receiving funds via ceremonial platforms should usage bank/NAFEX channels to unafraid person to authoritative rates; informal receipts volition bespeak the parallel premium.

The station Dollar to Naira speech complaint today, October 15, 2025 appeared archetypal connected Vanguard News.