- Official CBN Rate (NAFEM): ₦1,525.99 / USD *(+0.02%)*
- Black-Market Rate: ₦1,550 / USD (flat)
Drivers:
- FX Liquidity Boost: Improved dollar supply from short-term government debt yields
- Oil Price Warning: IMF cautions Nigeria may face earnings decline if crude prices fall further
- Crypto Slump: Major altcoins drop as Fed maintains hawkish stance
Top Tools: Cbn, Aboki Fx
The Naira extended gains at NAFEM but stalled in parallel trading. Analysts see potential for ₦1,500/$1 if FX inflows hold, though IMF oil warnings loom. Crypto markets dipped as Fed rate-cut hopes faded.*For real-time updates, use CBN Forex Tracker or AbokiFX for interbank quotes, and Binance P2P for black-market snapshots—each refreshed every minute.*
FAQ
What’s the gap between CBN & black-market rates? - ₦24.01 difference reflects lingering demand pressures.Will the naira strengthen soon? - Possible if oil stabilizes and FX reforms sustain liquidity.
How do oil prices affect rates? - 90% of Nigeria’s FX comes from crude; prices directly impact dollar supply.
