Dollar to Naira exchange rate today, October 9, 2025

The naira remained broadly unchangeable connected Thursday arsenic Nigeria’s authoritative marketplace (NFEM) and the Central Bank (CBN) rates hovered astir the mid-₦1,400s portion the parallel marketplace quoted higher prices — widening the spread that matters for traders, importers and Nigerians receiving remittances.

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

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

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

The spread betwixt the NFEM/CBN complaint and the parallel marketplace sits astatine astir ₦29–₦31 per dollar contiguous — a cardinal measurement of marketplace segmentation and dollar entree unit for mean Nigerians.

Why the naira is trading here

CBN argumentation and liquidity: The CBN’s caller argumentation easing — including a 50 bps chopped to the benchmark complaint successful precocious September — and steps to amended FX liquidity person helped stabilise the authoritative market. Analysts accidental easing ostentation and improved reserves besides supported the mid-₦1,400s levels.

Demand connected parallel market: Local request for currency dollars (travel, importers, and informal remittances) keeps AbokiFX and black-market quotes higher than authoritative levels. That dispersed persists contempt narrower gaps reported this week.

What is the interaction and who should ticker this?

Remitters and families: Money sent from overseas volition fetch much oregon little depending connected whether the recipient converts astatine an authoritative oregon parallel rate. Expect little worth if forced to usage parallel vendors.

Importers and businesses: The NFEM (VWAP) remains the benchmark for bulk FX allocation; businesses relying connected authoritative allocation should show regular NFEM movements closely.

Travellers and consumers: Cash travellers and consumers buying FX astatine informal venues volition apt wage AbokiFX/parallel rates today. Plan budgets accordingly.

The station Dollar to Naira speech complaint today, October 9, 2025 appeared archetypal connected Vanguard News.