Todays Exchange Rate.webp
Key points:
  • Official CBN Rate: N1,532 / USD
  • Black-Market Rate: N1,585 / USD
  • Drivers: CBN market intervention, demand pressure, oil price fluctuations
Top Tools: CBN Forex Rates, NairaWatch, Black Market Tracker

The Naira saw a slight depreciation in the parallel market, trading at N1,585 per dollar, compared to N1,570 the previous day. However, the official CBN rate appreciated slightly to N1,532 from N1,532, easing the gap between the parallel market and the Nigerian Foreign Exchange Market (NFEM). The Central Bank’s recent interventions, including an $86.6 million sale, continue to offer some relief to the Naira.

For real-time updates, use CBN Forex Rates or NairaWatch for interbank quotes, and Black Market Tracker for parallel market snapshots, each refreshed every minute.

FAQ
  • What’s the gap between CBN & black-market rates? The gap has widened to N58 per dollar, up from N38 the previous day.
  • Will the naira strengthen soon? The Naira could see gradual strengthening, supported by CBN interventions and improved oil market conditions.
  • How do oil prices affect rates? Rising oil prices help ease pressure on foreign exchange demand, potentially supporting the Naira’s value.