Dollar to Naira exchange rate today, October 20, 2025

The naira traded mixed connected Monday arsenic authoritative marketplace rates held dependable portion the parallel (street) marketplace remained notably weaker, reflecting choky dollar proviso and continuing request from importers and retail dealers.

Key rates (October 20, 2025)

* Daily NFEM / CBN (volume-weighted average): ₦1,467.43 per US$1 

* Interbank/spot feeds (market quotes): roughly ₦1,468–₦1,475 per US$1 

* Parallel / black-market (retail dealers): Buy ₦1,480 — Sell ₦1,500 per US$1 

What happened today

The Central Bank’s Daily Nigerian Foreign Exchange Market (NFEM) rate – the volume-weighted mean utilized arsenic the authoritative regular reference – remained astir the mid-₦1,400s connected Monday with marketplace information feeds showing the spot dollar trading near ₦1,467–₦1,475 depending connected the root and timing. These official/interbank levels are substantially firmer than rates quoted connected the parallel market, wherever retail dealers were buying dollars astatine about ₦1,480 and selling around ₦1,500.

Why the spread persists

Analysts and marketplace participants accidental the spread betwixt the official/NFEM and parallel marketplace rates continues due to the fact that dollar proviso remains choky portion request from importers, manufacturers and individuals is inactive strong. Recent argumentation moves — including a simplification successful the cardinal bank’s argumentation complaint successful September and ongoing FX marketplace management — have helped calm immoderate volatility, but structural shortages of dollars support the thoroughfare marketplace premium elevated.

What this means for Nigerians

* Consumers: Imported goods and foreign-priced services stay susceptible to terms increases portion the parallel marketplace premium persists.

* Businesses: Firms babelike connected timely dollar entree whitethorn inactive look higher procurement costs if they bargain from unofficial sources.

* Remittances: Households receiving dollars whitethorn get much naira if they merchantability successful the parallel market, but authoritative channels are preferable for larger, traceable transfers.

The station Dollar to Naira speech complaint today, October 20, 2025 appeared archetypal connected Vanguard News.