Key points:
- Official CBN Rate: N1,531.10 / USD
- Black-Market Rate: N1,535 / USD
- Drivers: FX reserve improvements, increased portfolio investments, import-related demand
The Naira weakened by N4.50, closing at N1,531.10/$1 in the official market on July 11, 2025. Meanwhile, the parallel market rate rose to N1,535/$1, reflecting slight instability in the market. Despite the depreciation, signs of recovery are visible in FX reserves and foreign portfolio investments.
For real-time updates, use CBN Forex Data for official rates, Forex Reserve Tracker for insights, and ParallelMarketRates for black-market quotes, each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? The gap stands at N3.90 per dollar.
- Will the Naira strengthen soon? Despite recent fluctuations, the Naira is expected to remain relatively stable, supported by improved reserves.
- How do oil prices affect rates? Oil prices directly impact Nigeria’s FX reserves and balance, which in turn affect the Naira’s value.
