




Your Daily Rate Fix
The Naira saw a slight decline of 32 Kobo in the official market, closing at N1,533.64/$1. The black-market rate remained stable at N1,535/$1. Despite pressure on the Naira, improvements in crude oil production and foreign portfolio investments provide optimism.
For real-time updates, use Forex Dashboard or Official FX Rates for interbank quotes, and Black Market Snapshot for the latest parallel market rates, each refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? The gap is N1.36/$1, showing a slight premium in the parallel market.
Will the Naira strengthen soon? While challenges persist, increased crude production and foreign investment could offer support to the Naira.
How do oil prices affect rates? Oil prices heavily influence Nigeria’s currency value, as crude exports drive the nation’s forex reserves. Fluctuations can directly impact the Naira.