The Naira gained some strength against the US Dollar in the official Nigerian Foreign Exchange Market (NFEM) on Monday, October 28, 2025, while the parallel (black) market rate remained relatively stable. The slight improvement follows recent policy adjustments and interventions by the Central Bank of Nigeria (CBN), as traders and businesses continue to watch how the market responds.
Official Market (NFEM)
At the official window, the Naira traded at about ₦1,457.06 per US dollar, marking a mild appreciation compared to earlier figures, which hovered between ₦1,457 and ₦1,458. The official market remains the benchmark for importers, exporters, and companies that require foreign exchange for regulated transactions.
Parallel Market (Black Market)
In the unofficial market, where most retail and informal FX transactions occur, the rate stayed relatively steady.
Buying rate: ₦1,450 – ₦1,460 per $1
Selling rate: ₦1,470 – ₦1,480 per $1
Analysts note that the gap between the official and parallel markets continues to narrow — a reflection of the CBN’s ongoing efforts to unify the exchange rate and strengthen confidence in the formal market.
What This Means for Nigerians
The closer alignment between the two markets is seen as a positive sign for the economy. It signals improving liquidity and a more transparent FX environment, though sustained stability will depend on consistent policy support.
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Dollar to Naira exchange rate today, October 27, 2025
Importers: A steadier exchange rate helps businesses plan better and manage import costs.
Exporters: While a stronger Naira may slightly reduce the value of their foreign earnings, stability makes long-term planning easier.
Travellers: Those buying foreign currency for trips abroad will notice that rates are becoming more uniform, reducing opportunities for arbitrage.
With both the official and parallel rates holding steady, market watchers say the next few weeks will reveal whether the CBN’s measures can deliver lasting exchange rate stability.
