The naira traded near ₦1,459 to the dollar on official windows on Sunday, October 26, 2025, while cash and parallel-market prices remained notably higher as demand for hard currency outstripped available supply.
Key rates
NFEM / official (volume-weighted) fixing: ₦1,458.8 / $1
CBN suggested/indicative levels (recent): mid-₦1,450s–₦1,460s.
Parallel / black market (street) sell: ₦1,495–₦1,515 per $1, depending on location and dealer.
The Central Bank of Nigeria (CBN) publishes the Daily Nigerian Foreign Exchange Market (NFEM) fixing — a volume-weighted average used by market participants and corporates to price trades — and that official benchmark was trading in the low ₦1,460s on Sunday, according to market data and FX quote services.
However, cash dealers and retail buyers continued to pay a premium at the parallel market, where rates this morning were quoted mostly between ₦1,480 and ₦1,515. Several black-market trackers and local FX monitors reported an average street sell rate near ₦1,495, with occasional deals as high as ₦1,515 in Lagos. The gap between the official NFEM fixing and street prices reflects lingering FX supply constraints for small-ticket cash transactions.
Traders say the naira’s recent behaviour has been influenced by a mix of factors: shifts in CBN liquidity operations, portfolio flows, and seasonal demand for imports and remittances. International data providers and Reuters market quotes show the naira trading around ₦1,458.78 on market screens on Oct. 26, albeit with intraday volatility.
What this means for Nigerians and businesses
Importers and corporates using official windows or NAFEX/FMDQ-linked channels will typically transact near the NFEM fixing (low ₦1,460s).
Individuals and small businesses buying cash dollars on the street should expect to pay the higher parallel rates (around ₦1,495–₦1,515).
Market watchers say resolving the official-parallel gap will depend on improved hard-currency flows into the formal market, ongoing CBN interventions, and broader investor sentiment. The central bank’s previous policy moves — including a September rate cut and liquidity operations — remain relevant as traders assess near-term direction.
The post Dollar to Naira exchange rate today, October 26, 2025 appeared first on Vanguard News.
