As of October 13, 2025, Nigerians continue to monitor the Dollar to Naira exchange rate closely as fluctuations persist across both the official and parallel markets.
Latest figures from AbokiFX, Bureau De Change (BDC) operators, and the Central Bank of Nigeria (CBN) provide insight into current market trends and rate movements.
Black Market (AbokiFX) Dollar to Naira Rate Today
In the parallel market, also referred to as the black market, the Naira currently trades at approximately ₦1,492 per US Dollar, according to data from AbokiFX.
BDC operators in key exchange hubs such as Wuse Zone 4, Abuja, report a buying rate of around ₦1,500 per USD, with slightly higher selling prices across major cities, including Lagos and Port Harcourt.
The continued activity in the black market highlights the sustained demand for foreign currency, particularly the US Dollar, despite several government policies aimed at stabilizing the Naira. Analysts observe that speculative trading and uneven forex distribution remain key factors influencing minor daily fluctuations.
Central Bank of Nigeria (CBN) Official Rate
At the official window, the CBN exchange rate stands at ₦1,471.09 per USD, marking a slight rise from ₦1,470.26 recorded previously.
The official rate has maintained relative stability as the Central Bank continues its foreign exchange management interventions to curb volatility and improve liquidity in the market.
Market Trends and Observations
Recent data show that the Naira has appreciated marginally in the parallel market, moving from ₦1,505 to ₦1,500 per USD, narrowing the gap between official and unofficial exchange rates.
However, the persistent disparity still reflects broader challenges in Nigeria’s forex supply system.
Financial experts suggest that as the difference between the official and black market rates continues to reduce, Nigeria may gradually move toward a more unified exchange rate system, limiting arbitrage and speculative trading.
Implications for Consumers and Businesses
With the Naira showing slight signs of stabilization in both markets, Nigerians are encouraged to:
-
Conduct forex transactions through authorized financial institutions or licensed BDC operators to avoid inflated black market prices.
-
Monitor daily exchange rate updates from credible sources such as AbokiFX and the CBN for accurate information.
-
Plan international business or personal transactions with consideration for minor daily rate fluctuations.
The ongoing changes in the Dollar to Naira exchange rate reflect the need for informed financial decisions and consistent monitoring, especially as Nigeria continues its efforts to strengthen the Naira and stabilize its foreign exchange market.