Dollar to Naira exchange rate today, October 22, 2025

The naira traded successful a constrictive set crossed authoritative and parallel markets connected Wednesday, with the Daily Nigerian Foreign Exchange Market (NFEM / NAFEX) fixing the dollar astatine about ₦1,468 per $1 portion the parallel (black) marketplace quoted the dollar between ₦1,480 (buy) and ₦1,495 (sell). 

Markets remained comparatively calm aft a play of humble gains for the naira earlier successful October. Dealers said liquidity connected the authoritative windows has improved somewhat successful caller weeks, keeping NFEM fixes clustered successful the high ₦1,400s — well beneath emblematic parallel-market quotes. 

Analysts constituent to the Central Bank of Nigeria’s (CBN) caller argumentation moves and easing ostentation arsenic supporting factors for the naira’s stabilisation. In September, the CBN trimmed its benchmark rate — a awesome that monetary argumentation is loosening aft an extended tightening cycle — which has helped calm FX volatility. Still, proviso constraints and request from importers and retail customers support the parallel marketplace premium intact.

Why there’s a spread betwixt authoritative and parallel rates

Official (NFEM/NAFEX) rates are derived from physics interbank trading and trader submissions and correspond a volume-weighted mean reported daily. The CBN and FMDQ processes validate these fixings. 

Parallel marketplace rates bespeak retail currency demand/supply and tin determination independently erstwhile authoritative liquidity is bladed oregon erstwhile banks bounds entree to FX for backstage customers. That explains wherefore parallel quotes connected October 22 were roughly ₦15–₦30 higher than the NFEM fixing.

What this means for Nigerians and businesses

Importers and corporates depending connected authoritative windows volition spot rates adjacent the NFEM fixing (≈₦1,468), portion individuals buying oregon selling currency USD connected the thoroughfare volition transact astir the higher parallel prices (₦1,480–₦1,495).

Continued monitoring of CBN liquidity operations and FMDQ/NAFEX intraday flows is recommended for traders and businesses arranging FX today. 

The station Dollar to Naira speech complaint today, October 22, 2025 appeared archetypal connected Vanguard News.