Key points:
- Official CBN Rate: ₦1,533.50 / USD
- Black-Market Rate: ₦1,565 / USD
- Drivers: Market speculation, U.S. Dollar index gains, forex reforms
- Top Tools: XE, CBN Website, Naira Metrics
The Naira sank to ₦1,565/$1 in the black market due to heightened speculation, as the U.S. Dollar posted its best monthly gain of 2025. In the official market, the Naira closed at ₦1,533.50/$1, a slight 0.25% drop from June. Despite the black-market weakness, the Naira remains relatively stable, supported by ongoing CBN reforms and investor sentiment. The spread between the official and parallel market rates widened to ₦30/$.
For real-time updates, use XE or CBN Website for interbank quotes, and Naira Metrics for black-market snapshots—each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? The Naira is trading at a ₦31 difference between the official and black-market rates, reflecting increased demand and market speculation.
- Will the naira strengthen soon? Market sentiment and positive reforms may support further Naira stability or gradual appreciation, but global uncertainties could lead to fluctuations.
- How do global events impact exchange rates? Global events, like the U.S. Federal Reserve’s decisions and trade relations, can significantly impact the strength of the U.S. Dollar, which in turn affects the Naira.
- Previous article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 25 June 2025
