The Nigerian Naira recorded a mild appreciation against the United States Dollar at the official window on Tuesday, October 28, 2025, following recent foreign exchange interventions by the Central Bank of Nigeria (CBN).
At the Nigerian Foreign Exchange Market (NFEM), the Naira traded around ₦1,457.06 per US Dollar, reflecting a marginal strengthening compared to earlier rates between ₦1,457 and ₦1,458. Market analysts say the move points to improved liquidity and consistency in CBN’s FX management.
Meanwhile, the parallel market, popularly known as the black market, maintained relative stability. Reports from currency dealers show that the buying rate hovered between ₦1,450 and ₦1,460, while the selling rate ranged from ₦1,470 to ₦1,480 per Dollar.
The narrowing gap between the official and unofficial exchange windows is seen as a positive indicator of the government’s effort to stabilise the currency and restore confidence in the forex market.
Experts note that the convergence of both markets reduces opportunities for arbitrage, signalling improved transparency. However, they warn that sustained progress will depend on continued CBN intervention and consistent policy execution.
For importers and exporters, the relative stability of the Naira offers better predictability in pricing and revenue conversion. Travellers are also expected to benefit as the difference between the official and parallel rates continues to shrink.
As of now, all eyes remain on the CBN’s next move, with market watchers anticipating further reforms to strengthen the Naira amid global economic pressures.
