Key points:
- Official CBN Rate: N1,536.04/$1
- Black-Market Rate: N1,537/$1
- Drivers: Fresh FX demand pressure, confidence in Naira despite volatility, global economic conditions.
- Top Tools: Naira Market Tracker, FX Rate Monitor, Black Market Tracker
The Naira saw a slight dip on Wednesday, depreciating to N1,536.04/$1 in the official market, while maintaining stability in the black market at N1,537/$1. This is the sixth consecutive session of depreciation amid increased demand pressures. For real-time updates, use Naira Market Tracker for interbank quotes, and Black Market Tracker for the latest on street-level exchange rates. FX Rate Monitor offers official market data refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? The current gap is N1 per dollar, with the black market at N1,537/$1, while the CBN rate stands at N1,536.04/$1.
Will the naira strengthen soon? Despite recent losses, positive developments like increased oil production and foreign portfolio investment may provide some support.
How do oil prices affect rates? Oil prices are key as they affect Nigeria's FX reserves. Lower oil earnings could worsen the Naira's performance in the official market.
- Previous article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 25 June 2025
