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Dollar to Naira Exchange Rate Today, October 23, 2025.
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Dollar demand remains high, creating pressure on Nigeria’s forex market.
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Experts urge tighter policies to stabilise the currency and bridge the gap.
The Nigerian naira remains under pressure against the US dollar as of October 23 2025, reflecting ongoing forex market strains and elevated demand for foreign currency.
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EKO HOT BLOG reports that on the official window (such as the Central Bank of Nigeria/NAFEM rate), the dollar is quoted in the ₦1,460-₦1,470 range, while on the parallel (“black”) market the rate has climbed toward ₦1,495 per US$1.
Here’s a snapshot of today’s USD/NGN rates:
| Market window | USD to NGN rate |
|---|---|
| Official (CBN/NAFEM) | ~₦1,463 per US$1 |
| Parallel/Black-market | ₦1,480 buy / ₦1,495 sell |
The divergence between the official and black-market rates underscores the persistent dollar shortages and demand pressure in Nigeria’s foreign-exchange market. For importers, businesses and individuals, this translates into higher cost of imported goods, travel and offshore payments. That gap also signals the need for tighter FX policy coordination and liquidity injections by the Central Bank to stabilise the naira.
Considering these dynamics, Nigerians dealing with USD transactions—whether for remittances, travel spends or imports should plan for rates closer to the parallel market figure. Meanwhile, policymakers and financial sector participants will watch closely how oil revenue flows, foreign portfolio flows and Central Bank interventions influence next-week’s FX movements.
