- Official CBN Rate: ₦1,538 / $1
- Black-Market Rate: ₦1,570 / $1
Tools: AbokiFX, NAFEM Tracker, FX Rate Today
The naira showed modest gains on Friday, appreciating to ₦1,538/$ at the official market and ₦1,570/$ on the street. Analysts attribute this to increased dollar supply, continued reforms, and growing investor confidence. The steady 2-week range suggests possible short-term stability. For live updates, track interbank rates with NAFEM Tracker or AbokiFX, and monitor parallel market changes via FX Rate Today, updated every minute.
- What’s the gap between CBN & black-market rates? ₦32, highlighting persistent street pressure despite official gains.
- Will the naira strengthen soon? Possibly. Stability hinges on continued reform momentum and FX inflow strength.
- How do oil prices affect rates? Higher oil revenue means more forex for the CBN to defend the naira; lower oil weakens this buffer.
