As at 15th October, 2025, the naira weakened slightly against the dollar on Tuesday, closing at ₦1,467.01/$1, compared to ₦1,460/$1 the previous day, according to data from the Central Bank of Nigeria (CBN).
The currency traded within a volatile band of ₦1,457–₦1,474/$1, a ₦17 spread that signals renewed demand pressures in the official market.
However, the parallel market moved in the opposite direction. Data from NgnRates.com showed the naira appreciating modestly, trading at ₦1,485/$1 (buy) and ₦1,505/$1 (sell), compared to ₦1,490/$1 (buy) and ₦1,510/$1 (sell) on Monday.
Nigeria’s foreign reserves continued their quiet climb, rising to $42.6 billion from $42.5 billion a day earlier, marking steady growth since mid-July, supported by improved oil export inflows.
Globally, the U.S. dollar softened against major currencies as markets priced in potential Federal Reserve rate cuts later in October, adding to currency market dynamics in emerging economies.
Meanwhile, domestic inflation appears to be cooling. The National Bureau of Statistics (NBS) reported that headline inflation eased for the fifth consecutive month, slowing to 20.12% in August 2025 from 21.88% in July.
The moderation suggests a gradual improvement in price stability, even as the naira faces external and structural pressures.
The NBS is expected to release its September CPI report on Wednesday, providing further insight into Nigeria’s macroeconomic direction.
