Key points:
Official CBN Rate: N1,446.74 / USD
Black-Market Rate: N1,470 / USD
Drivers: declining FX inflows, weak liquidity, profit-taking after mid-week gains, and cautious CBN interventions
Top Tools: AbokiFX Pro, FMDQ Exchange Feed, FXMonitor Live
The naira closed the week weaker at the official market, slipping to N1,446.74 from N1,443.90, a N2.8 daily drop, despite recording three gains earlier in the week. The black-market rate held flat at N1,470. External reserves, however, climbed to $44.61bn, signalling stronger buffers ahead. For real-time updates, use AbokiFX Pro or FMDQ Exchange Feed for interbank quotes, and FXMonitor Live for black-market snapshots, each refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? About N23.26, driven by demand pressure outside formal channels.
Will the naira strengthen soon? Short-term movement depends on FX liquidity and CBN supply, but rising reserves may support mild stability.
How do oil prices affect rates? Higher oil prices boost dollar inflows and strengthen reserves, giving the CBN more firepower 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 17 October 2025
