Key points:
- Official CBN Rate: N1,497.5 / USD
- Black-Market Rate: N1,537 / USD
- Drivers: Improved FX supply, rising foreign reserves, stabilizing demand
- Top Tools: CBN Official FX Rate Dashboard, Nairametrics, Aboki Fx
The Naira has gained strength, trading below N1,500 for the first time since February 2025, driven by improving foreign reserves and more efficient FX supply. Analysts expect the trend to continue amid stabilizing demand.
FAQ
- What’s the gap between CBN & black-market rates? The gap remains relatively consistent, with the official rate stabilizing and the black-market rate staying at N1,537.
- Will the naira strengthen soon? The Naira's improvement is attributed to increased foreign reserves, stabilizing FX supply, and reduced speculative demand.
- How do oil prices affect rates? Rising oil prices and an efficient monetary policy have contributed positively to the Naira's performance in the official market.
