Dollar to Naira Exchange Rate Today — October 28, 2025!
Reported by Marian Opeyemi Fasesan | Sele Media Africa
The Naira firmed slightly on the Nigerian Foreign Exchange Market (NFEM) on October 28 , 2025, while its rate in the parallel (black) market remained relatively stable.
What We Know:
- At the official NFEM window, the U.S. dollar was quoted at approximately ₦1,457.06 per US$1. [1]
- In the parallel market, traders reported rates around ₦1,450–₦1,460 for buys, and ₦1,470–₦1,480 for sells. [1]
Why It Matters:
- A stronger naira in the official market can ease costs for importers and support local businesses relying on foreign exchange.
- The narrow gap between official and parallel rates suggests improved liquidity and may discourage informal forex trading.
- Stability in the forex market is critical for inflation control, price setting of imported goods and travellers.
What to Watch:
- Any moves by the Central Bank of Nigeria (CBN) to sustain or intervene in FX supply.
- Changes in the parallel market spread as it signals pressure points in forex demand.
- Impact on key sectors like aviation, importers, remittances and businesses with FX exposure. Citations:
- Vanguard News: www.vanguardngr.com/2025/10/dollar-to-naira-exchange-rate-today-october-28-2025/?utm_source=chatgpt.com
- exchangerates.org.uk: www.exchangerates.org.uk/USD-NGN-spot-exchange-rates-history-2025.html?utm_source=chatgpt.com
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