At a glance — exchange-rate snapshot

On Oct 7, 2025 the Nigerian naira was trading near the mid-₦1,460–₦1,470 range against the US dollar on the official NFEM/CBN-derived market, while parallel (black) market quotes remained higher (about ₦1,490–₦1,500 per US$ in some reports). [oai_citation:0‡Vanguard News](https://www.vanguardngr.com/2025/10/dollar-to-naira-exchange-rate-today-october-7-2025/?utm_source=chatgpt.com)

What’s been driving the slide?

Several factors are contributing to naira weakness versus the dollar:

• FX supply constraints & inflows: Weekly foreign-exchange inflows have slowed at times, reducing dollar availability for banks and corporates. This puts upward pressure on the dollar price. [oai_citation:1‡Businessday NG](https://businessday.ng/business-economy/article/naira-witnesses-marginal-loss-as-weekly-fx-inflows-decline/?utm_source=chatgpt.com)
• Policy changes and subsidy removals: Reforms such as fuel-subsidy removal and FX-market unification have tightened short-term liquidity while aiming to correct distortions over time. These shifts can temporarily raise dollar demand and volatility. [oai_citation:2‡Reuters](https://www.reuters.com/world/africa/nigerias-president-says-worst-is-over-independence-day-amid-worsening-hardship-2025-10-01/?utm_source=chatgpt.com)
• Refinery/export behaviour: Major refiners shifting sales or prioritising exports (for dollar receipts) can raise domestic dollar demand — for example, the suspension of naira-based petrol sales by a large refinery has been flagged as a pressure point. [oai_citation:3‡Reuters](https://www.reuters.com/business/energy/nigerias-dangote-refinery-halts-naira-petrol-sales-over-crude-supply-constraints-2025-09-27/?utm_source=chatgpt.com)
• Valuation and market positioning: Analysis from market research suggests the naira may be overvalued in some measures — that gap makes corrections and short-term depreciation more likely as markets reprice. [oai_citation:4‡Nairametrics](https://nairametrics.com/2025/10/03/naira-is-overvalued-by-30-against-the-dollar-report/?utm_source=chatgpt.com)

Why this matters for you

A weaker naira raises costs for importers, pushes up retail prices for dollar-priced goods (electronics, some medicines, fuel-related costs), and increases the local-currency cost of foreign debt and school fees abroad. Consumers may feel inflationary pressure even if headline inflation is cooling. [oai_citation:5‡Reuters](https://www.reuters.com/world/africa/nigerias-president-says-worst-is-over-independence-day-amid-worsening-hardship-2025-10-01/?utm_source=chatgpt.com)

Short-term outlook (what markets are saying)

Market commentary this week suggests the naira could see modest gains if central-bank dollar sales continue and dollar demand remains subdued — but volatility will likely remain until FX inflows and domestic supply dynamics stabilise. Watch official NFEM/CBN bulletins and reputable market trackers for end-of-day rates. [oai_citation:6‡Reuters](https://www.reuters.com/world/africa/africa-fx-nigerias-currency-could-rise-ghanas-fall-2025-10-02/?utm_source=chatgpt.com)

Practical tips — protect your wallet

• If you run a business: hedge short-term dollar exposure where possible, invoice in naira if you can, and build a modest FX buffer for essential imports.
• If you’re saving or remitting: use licensed banks or reputable remittance services; avoid risky parallel-market deals that can carry fraud risk.
• For households: plan for possible price increases in imported goods, prioritise essential purchases, and track official exchange-rate updates when budgeting for school fees or foreign payments.

Where to check reliable rates

For official NFEM/CBN rates, check the Central Bank of Nigeria’s exchange-rate page. For market aggregates and historical charts, reputable data providers like TradingEconomics, Wise, and established Nigerian financial press provide useful cross-checks. [oai_citation:7‡Central Bank of Nigeria](https://www.cbn.gov.ng/rates/ExchRateByCurrency.html?utm_source=chatgpt.com)

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Sources used in this post include Reuters, Vanguard, BusinessDay, market-rate trackers and analysis reports (links and publication dates cited). This article is informational — not personalised financial advice.