Key points:
Official CBN Rate: ₦1,436.58 / USD
Black-Market Rate: ₦1,450 / USD
Drivers: Continued CBN FX intervention, rising external reserves ($43.324bn), strong Eurobond oversubscription (477%), and stable oil prices.
Top Tools: AbokiFX, NAFEX Official, CBN Rate Tracker
The naira strengthened slightly at the official market, supported by CBN interventions and improved investor confidence. The parallel rate held steady as crypto markets rebounded amid expectations of a Fed rate cut.
FAQ
What’s the gap between CBN & black-market rates? Approximately ₦13.42, reflecting ongoing market segmentation and demand pressures.
Will the naira strengthen soon? Short-term stability is expected due to CBN support and rising reserves, but structural reforms are needed for sustained gains.
How do oil prices affect rates? Higher oil prices boost external reserves and strengthen the CBN’s ability to defend the naira.
- Next article in the series 'Dollar to Naira Rate Series': Dollar to Naira Rate: Dollar → Naira SnapshotRate for 14 October 2025
