- Dollar To Naira Exchange Rate Today, 7 October 2025.
- Black market rates hover between ₦1,500 and ₦1,550.
- Experts call for stronger FX reforms to stabilize the naira.
As of 7 October 2025, the Nigerian naira continues to trade under pressure against the US dollar, reflecting ongoing volatility in the foreign exchange market.
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EKO HOT BLOG reports that on the official foreign exchange market, the naira is quoted around ₦1,484 per US$1.
In the parallel or black market, rates tend to be much higher, often ranging between ₦1,500 to ₦1,550 per US$1, though precise figures fluctuate across cities.
Exchange Rate Snapshot
| Market Segment | Rate (₦ per US$1) | Remarks |
|---|---|---|
| Official FX Market | ₦1,484 | Based on trading data and trend |
| Black Market / Parallel | ~₦1,500 – ₦1,550 | Varies by city and demand |
Market Context & Outlook
-
After weakening earlier in the year, the naira has shown some signs of stabilization. On 1 October, it was quoted at ₦1,484.00 per US$1.
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Analysts attribute the modest improvement partly to central bank interventions, elevated dollar liquidity, and downward pressure in demand for foreign exchange.
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Despite this, the wide spread between official and parallel markets underscores persistent stress in currency markets and structural gaps in FX allocation.
As the macroeconomic environment evolves, key factors to watch include central bank policy actions, foreign inflows (especially from oil and remittances), and global dollar strength.
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