Key points:
- Official CBN Rate: N1,526.60 / USD
- Black-Market Rate: N1,530 / USD
- Drivers: Naira pressure, global economic outlook, FX reserves, external loans
The Naira weakened by 84 Kobo, trading at N1,526.60/$1 in the official market on July 10, 2025, marking a small depreciation from the previous day. Meanwhile, the black-market rate remained steady at N1,530/$1. The Naira’s performance continues to face pressure amid rising FX reserves and external borrowing efforts.
For real-time updates, use CBN Forex Data for official rates, Forex Reserve Tracker for foreign reserve insights, and Black-Market Rate Monitor for parallel market rates, each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? The gap is currently N3.40 per dollar.
- Will the Naira strengthen soon? The Naira may experience relative stability but faces pressure from debt repayments and external shocks.
- How do oil prices affect rates? Oil price fluctuations impact Nigeria’s foreign reserves and FX market, influencing the Naira’s value.
