Key points:
- Official CBN Rate: N1,456.72 / USD
- Black-Market Rate: N1,465 / USD
- Drivers: Minimal FX interventions by the Central Bank, strong offshore inflows, Eurobond issuance, structural supply-demand imbalances, and global dollar movements
- Top Tools: NAFEM Live, GTBank FX Portal, AbokiFX
The Naira fell slightly at the official market on Friday, closing at N1,456.72/$1, down N4.59 from the previous session. The black-market rate remained stable at N1,465/$1. Against the Pound Sterling and Euro, the Naira also weakened, finishing at N1,905.98/£1 and N1,678.29/€1 respectively. Limited interventions by the apex bank, capped at $50 million in recent weeks, kept the currency from rebounding. Meanwhile, Nigeria’s external reserves reached $46.7 billion, buoyed by Eurobond issuance and foreign inflows. For real-time updates, use NAFEM Live or GTBank FX Portal for interbank quotes, and AbokiFX for black-market snapshots, each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? About N8 per USD as of Friday.
- Will the Naira strengthen soon? Unlikely in the short term without larger FX interventions.
- How do oil prices affect rates? Higher oil inflows improve FX supply, supporting the Naira.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 23 October 2025
