Dollar to Naira Rate Today, October 6, 2025: What Nigerians Should Know

The exchange rate between the US dollar (USD) and the Nigerian naira (NGN) continues to command attention, and today October 6, 2025 remains no different. With fluctuating official and parallel market rates, Nigerians are keeping a close watch as the naira battles external pressures and domestic economic shifts.

In the parallel (black) market, sources report that $1 is being sold for ₦1,460, while buyers are quoting around ₦1,445. These rates reflect the real-time sentiment and supply constraints in street-level foreign exchange dealings across cities like Lagos, Abuja, and Kano.

Meanwhile, in the official interbank and foreign-exchange markets, the USD/NGN rate hovers around ₦1,483.11 as per Investing.com.This rate is used more in formal banking, corporate transactions, and trade.

Why the Disparity?

This gap between the official and black market rates is nothing new—Nigeria’s forex market has long been characterized by dual rates. Some of the key drivers include:

Foreign currency scarcity: Limited inflows from exports and foreign direct investment put pressure on dollar supply.

Import dependency: The country’s reliance on imports pushes demand for dollars higher.

Regulation & control: Central Bank interventions often attempt to insulate the official rate, creating arbitrage opportunities.

Speculation & volatility: Market sentiment and expectations can rapidly shift exchange rates in informal markets.

What This Means for Nigerians

Remittances & diaspora transfers: Those receiving money from abroad often find better value in using parallel markets, despite legal risks.

Importers & businesses: They face wider costs in budgeting and sourcing goods, given rate unpredictability.

Retail consumers: Prices of imported goods, electronics, and even airline tickets continue to bear the brunt of currency swings.

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