Key points:
- Official CBN Rate: ₦1,475.35 / USD
- Black-Market Rate: ₦1,490 / USD
- Drivers: Global risk aversion, foreign investors selling local assets, and limited CBN dollar supply
- Top Tools: CBN FX Monitor, AbokiFX, Nairametrics FX Tracker
The Naira depreciated by ₦4.32 in the official market and ₦5 in the black market, hitting new lows due to foreign investor risk aversion and the CBN's limited greenback supply. For real-time updates, use CBN FX Monitor or AbokiFX for interbank quotes, and Nairametrics FX Tracker for black-market snapshots refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? ₦14.65 difference, indicating persistent market pressure.
Will the naira strengthen soon? Unlikely next week, as foreign investors sell assets, outweighing positive factors like rising reserves and easing inflation.
How do oil prices affect rates? Struggling oil prices prevent the steady build-up in reserves needed to stabilize the currency.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 25 September 2025
