Panic As Dollar Gets New Rate, See Fresh Exchange Today, October 17, 2025

In recent weeks, the Nigerian naira has experienced some advantages in the currency exchange landscape, benefiting from a gradual increase in its value within the Foreign Exchange Market.

However, this positive trend has recently faced fluctuations, leading to a mixed outlook on the currency’s strength against the dollar. Click link to continue reading

As of last Friday, the naira was trading in the mid-₦1,400s on official platforms of the Nigerian Foreign Exchange Market (NFEM). In stark contrast, the parallel (black) market continued to quote the dollar at significantly higher rates, hovering around ₦1,480 to ₦1,500.

This disparity illustrates a persistent premium of approximately ₦25 to ₦40 between the official exchange channels and the rates found on the street, highlighting the ongoing challenges in Nigeria’s currency valuation and market dynamics.

Key rates

NFEM (official VWAP / CBN-derived rate): ₦1,470–₦1,475 per $1. This is the volume-weighted average used as the official daily NFEM rate.

Central Bank / interbank listings (recent reference levels): ₦1,460–₦1,475 per $1. (Historic daily CBN/exchange tables show mid-₦1,400s levels through mid-October).

Parallel / black market (Aboki / Abokifx / crowd-sourced trackers): ₦1,480–₦1,500 per $1.

Dealers and market commentators say the gap persists because official windows continue to receive constrained dollar supplies even as demand from importers and portfolio flows fluctuate. Foreign investors offloading local assets and limited central bank dollar provisioning were highlighted as near-term pressures in market reports.

Market impact — what it means

Importers & corporates: Higher parallel rates lift cost pressures when dollars are sourced outside official windows.

Remittances: Recipients relying on informal channels may see better conversion on the parallel market but greater volatility.

Consumers: The spread keeps upward pressure on prices of dollar-priced goods and services.

Vanguard