- Official CBN Rate: ₦1,543.94 / USD
- Black-Market Rate: ₦1,580 / USD
- Drivers: FX inflows from IOCs & FPIs, global risk-on mood, reform optimism
- Top Tools: cbn.gov.ng, abokifx.com, nairametrics.com
After a brief losing streak, the naira rebounded at the official window, gaining ₦5.27 to close at ₦1,543.94/$1 on Thursday. The black-market rate held steady at ₦1,580/$1. Analysts attributed the naira’s boost to improved FX liquidity from local oil firms and foreign portfolio investors, spurred by stronger economic sentiment and reform momentum. For real-time updates, use cbn.gov.ng or abokifx.com for interbank quotes, and nairametrics.com for black-market snapshots, each refreshed every minute.
What’s the gap between CBN & black-market rates?
₦36.06 - the spread remains moderate as both markets settle within the ₦1,500–₦1,580 range.
Will the naira strengthen soon?
Continued FX inflows, strong macro numbers, and market reforms may keep the naira stable or slightly stronger in the short term.
How do oil prices affect rates?
Higher oil export revenues enhance FX supply from IOCs, helping to stabilise the naira and narrow market volatility.
