Dollar to Naira exchange rate today, October 2, 2025

The Nigerian naira held a broadly fragile code connected Thursday, trading with a humble spread betwixt the authoritative Nigerian Foreign Exchange Market (NFEM) and the parallel marketplace arsenic marketplace participants weighed improved dollar flows against persistent request pressures.

Key rates (today):

• NFEM (official): ₦1,483 per US$1.
• Parallel market: ₦1,490 per US$1.

The authoritative NFEM complaint – the volume-weighted fig derived from interbank trading and published by authorities – showed the naira trading astir ₦1,483 to the dollar connected Thursday, a tiny determination from levels seen successful the contiguous anterior session. Traders accidental the authoritative model remains delicate to CBN liquidity operations and bid flows connected the physics matching system.

In the parallel market, market-aggregators enactment the naira astatine astir ₦1,490 to the dollar, leaving a dispersed of astir ₦7 betwixt the 2 windows. That dispersed is materially smaller than the double-digit differentials seen during earlier bouts of marketplace stress, and points to a partial convergence betwixt the ceremonial and informal segments — though the parallel marketplace continues to service customers who cannot entree the ceremonial window.

Market analysts attributed today’s comparative calm to a premix of humble overseas currency inflows (including diaspora remittances and import receipts) and CBN interventions that person helped headdress crisp intraday swings. Global currency moves besides played a role: the US dollar was broadly dependable successful planetary commercialized connected Thursday aft caller volatility successful planetary markets.

What traders are saying:

Dealers contacted by concern desks said request from importers, students and travellers remains the ascendant operator of volumes successful the parallel market, adjacent arsenic banks and authorised dealers negociate astir firm flows done NFEM. Several analysts warned that the convergence is fragile and volition necessitate sustained inflows, deeper FX liquidity and clearer argumentation signals for the naira to stabilise sustainably.

Outlook:

Short-term forecasts from marketplace commentators expect the dollar to commercialized successful a constrictive set astir ₦1,480–₦1,495 successful the authoritative model and ₦1,485–₦1,500 successful the parallel marketplace implicit the coming days — contingent connected dependable dollar proviso and nary abrupt alteration successful demand.

Policymakers’ quality to proceed measured interventions and to deepen FX marketplace liquidity volition beryllium cardinal to keeping volatility successful check.

The station Dollar to Naira speech complaint today, October 2, 2025 appeared archetypal connected Vanguard News.