Key points:
- Official CBN Rate: N1,536.18 / USD
- Black-Market Rate: N1,550 / USD
- Drivers: FX pressure, Central Bank’s non-intervention, seasonal demand
The Naira weakened slightly, closing at N1,536.18/$1 in the official market, as FX pressures persist. Despite no intervention from the Central Bank, analysts expect stability in the N1,530–N1,540 range, with seasonal demand likely supporting the Naira. For real-time updates, use CBN Rate or Parallel Market Snapshot for interbank quotes, and Crypto Market Insights for digital currency snapshots, each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? Currently, there’s a N13.82 gap between the official and parallel market rates.
- Will the Naira strengthen soon? Analysts expect temporary stability, supported by seasonal demand and robust FX liquidity.
- How do oil prices affect rates? Oil prices directly influence Nigeria’s foreign exchange inflows, impacting the Naira’s value.
- Previous article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 04 July 2025
