October 02, (THEWILL) —The naira, on Thursday, October 2, 2025, recorded an improvement against the United States dollar in the parallel market, with traders quoting a buying rate of N1,435 and a selling rate of N1,453 as of 3:35 p.m.
This marks a gain for the local currency compared to recent sessions when the dollar sold above the N1,460 mark in the black market.
Bureau de Change (BDC) operators in Lagos confirmed the upward movement, attributing it to increased dollar supply in the market and reduced demand pressure. They explained that the latest rebound reflects ongoing interventions and more confidence in the local market, even as the gap between official and parallel rates gradually narrows.
Official market records also indicate the naira has appreciated by about 3.6 percent over the past month. Market data show the local currency has been on a steady path of recovery. Barely weeks ago, the naira slipped to as low as N1,555 per dollar in the black market, before firming up in recent days to between N1,520 and N1,545.
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