Naira Rises Against Dollar In Parallel Market, See New Rate

Naira Rises Against Dollar In Parallel Market, See New Rate

The Nigerian Foreign Exchange Market (NFEM) on Tuesday, October 28, 2025, recorded a mild appreciation of the Naira against the US Dollar, even as rates in the parallel market remained largely unchanged.

According to data from the official trading window, the Naira traded at approximately ₦1,457.06 per US Dollar, reflecting a slight improvement from earlier figures that hovered between ₦1,457 and ₦1,458.

Market analysts attribute the development to recent Central Bank of Nigeria (CBN) interventions and ongoing policy adjustments aimed at stabilizing the forex market.

At the parallel market, however, rates stayed relatively stable.

Buying Rate: ₦1,450 – ₦1,460 per $1

Selling Rate: ₦1,470 – ₦1,480 per $1

The marginal spread between the official and unofficial markets has drawn attention from financial observers, who see it as a positive signal that the CBN’s strategy to narrow the forex gap may be yielding results.

Traders, importers, and exporters are now watching closely to see whether the Naira’s slight rebound can be sustained in the coming days amid shifting demand and supply pressures across the market.