Key points:
- Official CBN Rate: ₦1,447.43 / USD
- Black-Market Rate: ₦1,465 / USD
- Drivers: Strengthening foreign reserves, slight interbank gains, stable inflation expectations
- Top Tools: CBN NFEM Window, FMDQ I&E, Abokif
Your Daily Rate Fix
The Naira recorded its first day of appreciation against the US dollar in the official market this week, gaining ₦0.60 to ₦1,447.43. Meanwhile, the black-market rate held steady at ₦1,465. Nigeria’s foreign reserves also rose to a seven-year high of $46.7 billion, reflecting improved FX liquidity and CBN interventions. For real-time updates, use CBN NFEM Window or FMDQ I&E for interbank quotes, and Abokifx for black-market snapshots, each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? ₦17.57 per USD
- Will the Naira strengthen soon? Likely, if foreign reserves remain high and liquidity is maintained.
- How do oil prices affect rates? Higher oil revenue boosts FX inflows, supporting the Naira.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 18 October 2025
