- Dollar to Naira Exchange Rate Today, September 22, 2025
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Exchange rates hit as high as ₦1,530 per dollar at black market.
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Analysts warn depreciation may worsen inflation and household expenses.
The Nigerian currency continued to face pressure in the foreign exchange market today, with the naira trading lower against the United States dollar across official and parallel windows.
Checks at the official Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday morning showed the dollar opening stronger, while parallel market operators in Lagos and Abuja reported further depreciation in street trading.
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EKO HOT BLOG reports that Traders attributed the fluctuations to strong demand for foreign exchange from importers, limited liquidity inflows, and rising speculation around Nigeria’s monetary policies.
Below is the exchange rate of the dollar to naira across key trading windows on Monday, September 22, 2025:
| Market Window | Buying (₦) | Selling (₦) |
|---|---|---|
| Official (NAFEM) | 1,488 | 1,493 |
| Parallel (Black) | 1,520 | 1,530 |
| BDC Operators | 1,510 | 1,525 |
The widening gap between the official and black-market rates continues to raise concerns among analysts, who warn that the trend could fuel inflationary pressures in the coming weeks. Market watchers also say Nigeria’s dependence on imports, coupled with weak dollar inflows from oil exports, is worsening the naira’s vulnerability.
Meanwhile, the Central Bank of Nigeria has maintained that ongoing reforms are designed to stabilise the forex market in the medium term.
However, businesses and households remain under strain as the naira’s volatility directly affects the cost of goods and services.
