As of October 27, 2025, the Nigerian Naira’s exchange rates against major currencies showed positive movements across different market segments, according to data from the Central Bank of Nigeria (CBN), LEMFI, and REMITLY.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira appreciated by 0.38% to close at N1,455.50/$1 on October 24, from N1,461.00/$1 on October 23, according to data from the Central Bank of Nigeria (CBN).
In the black/parallel market, data from NgnRates.com revealed the naira was quoted at N1,480 (Buy) and 1,500 (Sell), on October 27, unchanged from the previous session. Abokiforex quoted Dollar to naira rate at N1,480 (Buy) and N1,490 (Sell) on October 27th.
In the International Money Transfer Operators (IMTO) segment, data sourced from platforms like LEMFI and REMITLY showed the naira remained unchanged against the US dollar at N1,487/$1 on October 27.
The naira depreciated against the Great British Pound on October 27 by 0.25% to N1,991/£1 from N1,986/£1, while it appreciated against the Euro by 0.17% to N1,724/€1 from N1,721/€1.
The naira strengthened against the Canadian Dollar by 0.19%, reaching N1,064/$1 from N1,062/$1.
Meanwhile, Nigeria’s external reserves stood at $42.865 billion as of October 22, reflecting a 0.17% increase from $42.792 billion on October 20, signaling continued gradual buildup in foreign exchange buffers.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of major currencies like the euro, yen, and pound, opened the trading day around 98.94, aligning closely with the previous close of 98.9377 from October 24.
Early trading showed minimal volatility, with the DXY hovering between 98.90 and 99.10 in the first few hours (New York session open). It ticked up modestly by about 0.05% (to ~99.00) by mid-morning, driven by light safe-haven flows amid mixed Asian equity cues.
