Key Points:
Official CBN Rate: ~₦1,446 / USD
Black-Market Rate: ₦1,460–₦1,465 / USD
Drivers: Tight FX liquidity, strong street demand, limited official supply, mild intraday volatility, and businesses sourcing dollars outside formal channels.
Top Tools: AbokiFX Live, FXMallam, NAFEM Dashboard
The naira held steady in the mid-₦1,400s at the official NFEM window today, while black-market dealers sold as high as ₦1,465. The wider gap reflects rising demand for cash dollars and limited supply in the formal market. For real-time updates, use AbokiFX Live or FXMallam for interbank quotes, and NAFEM Dashboard for black-market snapshots, each refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? Roughly ₦15–₦20 per dollar, driven by liquidity shortages and higher street demand.Will the naira strengthen soon? Short-term recovery depends on improved FX supply and CBN interventions; current signals show stability, not appreciation.
How do oil prices affect rates? Higher oil prices boost dollar inflows and can ease FX pressure; weaker oil prices deepen scarcity and widen the rate gap.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 25 October 2025
