Key points:
- Official CBN Rate (NAFEM): ₦1,480.66 / $1
- Black-Market Rate: ₦1,495 / $1
- Drivers: Low FX demand, improved liquidity, CBN interventions, stronger reserves
- Top Tools: CBN FX Monitor, AbokiFX, NairaRatesLive
The naira gained against the dollar on both official and parallel markets on Friday, closing at ₦1,480.66/$1 and ₦1,495/$1, respectively. Gains were supported by CBN interventions and improved liquidity, with analysts projecting rates to hold steady between ₦1,480–₦1,490 next week.
FAQ
What’s the gap between CBN & black-market rates? Just ₦14.34, showing one of the narrowest gaps in months.Will the naira strengthen soon? Analysts expect stability short term, but Q4 forex demand could add pressure.
How do oil prices affect rates? Higher oil revenues improve FX inflows, boosting CBN’s ability to defend the naira.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 3 September 2025
