The Nigerian naira slipped slightly on Tuesday, October 14, 2025, across the country’s foreign‑exchange markets. Official rates from the Nigerian Foreign Exchange Market (NFEM) and the Central Bank of Nigeria (CBN) kept the naira in the mid‑₦1,400s, with the NFEM and CBN reporting a range of roughly ₦1,460 to ₦1,466 per US dollar. The CBN’s published reference figures, used by banks and authorized participants, remained within the high ₦1,400s band.
In contrast, parallel or black‑market rates were noticeably higher. According to AbokiFX, the dollar traded between ₦1,490 and ₦1,505, depending on the location and seller. Other market trackers, such as TradingEconomics, recorded an intraday USD/NGN rate of about ₦1,461.36 for the day, confirming that the official market stayed in the mid‑₦1,400s while the parallel market hovered near ₦1,500.
These exchange‑rate movements reflect ongoing fluctuations in Nigeria’s foreign‑exchange market, driven by supply and demand dynamics, economic indicators, and global trends. The naira’s value has been volatile in recent months, prompting the Nigerian government and financial institutions to pursue stabilization measures. The CBN has implemented various policies to manage the market and support economic stability.
As the Nigerian economy evolves, the foreign‑exchange market will remain a focal point for investors, businesses, and individuals. Continuous monitoring of exchange rates and their implications is essential for understanding the broader impact on the Nigerian economy and international trade.
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