Dollar to Naira exchange rate today, October 13, 2025

Nigeria’s naira traded stronger connected the authoritative regular foreign-exchange model contiguous portion the parallel marketplace remained astir ₦1,500 to the dollar, keeping a meaningful premium implicit the Central Bank-derived NFEM rate.

The Nigerian Foreign Exchange Market (NFEM) — the volume-weighted mean terms the Central Bank uses arsenic the day’s authoritative marketplace benchmark — opened astatine astir ₦1,462.50 per US dollar connected October 13, according to marketplace information tracking services. That fig is the notation galore analysts and corporates usage for cross-border pricing and reporting.

On the parallel (informal) market, commonly tracked by platforms specified arsenic NairaToday and AbokiFX, dealers quoted astir ₦1,500/$1 for currency income successful Lagos, Abuja and different large cities — a level broadly unchanged from caller days but inactive supra the NFEM window, reflecting liquidity frictions and retail request pressures. The parallel marketplace complaint is wide utilized for tiny currency transactions and remittances that bash not travel done authoritative FX windows.

Market commentators constituent to a premix of factors keeping the dispersed intact: little dollar turnover successful immoderate segments of the market, continued request for currency dollars, and the lag betwixt authoritative argumentation actions and on-the-ground liquidity. The Central Bank’s caller easing of monetary argumentation — a 50 basis-point chopped to the argumentation complaint successful precocious September — has improved marketplace sentiment but has not eliminated distortions betwixt authoritative and parallel rates.

What this means for businesses and consumers

Importers and corporates who entree the NFEM oregon the FMDQ model whitethorn spot somewhat cheaper dollar backing astatine the authoritative rate, improving margins connected externally priced inputs.
Retail consumers and tiny traders who trust connected currency dollars inactive look the higher parallel terms (≈₦1,500), affecting remittance recipients and question budgets.
Remittances & travel: those converting tiny amounts successful currency are apt to get the parallel rate; larger, ceremonial transfers routed done banks whitethorn bespeak the NFEM figure.

Analysts accidental the spread betwixt official/window rates and the parallel marketplace is apt to persist until FX liquidity successful the ceremonial channels improves materially — either done accrued FX inflows, a sustained pickup successful proviso via offshore investors, oregon targeted cardinal slope operations to mop up oregon inject dollar liquidity.

The station Dollar to Naira speech complaint today, October 13, 2025 appeared archetypal connected Vanguard News.