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Naira Firms Slightly as Dollar Liquidity Improves — Exchange Rate Now ₦1,466.65/$1 (October 11, 2025)
The naira appreciated slightly in the official market, closing at ₦1,466.65 per dollar on October 11, 2025, as dollar liquidity improved. Parallel market rates stayed around ₦1,490–₦1,500 amid stronger cash demand.
The naira strengthened modestly in the official Nigerian Foreign Exchange Market (NFEM) on Saturday, October 11, 2025, as improved dollar liquidity and steady foreign-reserve inflows boosted market confidence.
According to official figures, the NFEM closing rate stood at approximately ₦1,466.65 per US dollar, reflecting a slight appreciation from earlier in the week.
Data from the Central Bank of Nigeria (CBN) showed that official reference rates in early October ranged between the mid-₦1,400s and ₦1,470s, underscoring relative stability in the official market.
However, rates in the parallel market (Bureau de Change) remained higher, trading between ₦1,490 and ₦1,500 per US dollar in Lagos. The continued gap between the official and parallel markets highlights stronger demand in the cash-based FX segment and limited access to official foreign exchange for smaller transactions.
What Drove the Market
Market analysts attributed the naira’s modest gain to improved FX liquidity, supported by portfolio inflows, offshore investor participation, and steady external reserves. The uptick in dollar supply helped the official market close firmer compared to earlier trading sessions.
Despite this, persistent domestic cash demand and restricted access to bank FX windows kept BDC/parallel rates noticeably above official NFEM and CBN levels.
The naira has shown gradual appreciation this month, buoyed by foreign inflows and Central Bank interventions aimed at stabilising the exchange rate.
Key Factors to Watch
- CBN Guidance and FX Auctions: Any updates to intervention frequency or new policy signals could influence NFEM trends.
- Portfolio Flows and Sovereign Bonds: Sustained investment inflows into Nigerian assets would likely strengthen the naira further.
- Parallel Market Movements: Cash demand and ease of access to official FX channels will determine whether the BDC premium narrows or remains wide.
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