Key points:
- Official CBN Rate: N1,525.76 / USD
- Black-Market Rate: N1,530 / USD
- Drivers: CBN support, FX reserves growth, global oil price stability
The Naira appreciated to N1,525.76/$1 in the official market on July 9, up by N4.13. Meanwhile, the black market remained steady at N1,530/$1. This stability reflects continued CBN support and rising FX reserves despite global challenges.
For real-time updates, use CBN Forex Data or Forex Reserve Tracker for official rates, and Black-Market Rate Monitor for parallel market quotes—each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? The gap stands at N4.24 between the official and black-market rates.
- Will the naira strengthen soon? With rising reserves and ongoing CBN support, the Naira may continue to stabilize.
- How do oil prices affect rates? Oil prices influence Nigeria’s FX reserves, impacting the Naira's value in the global market.
