Key points:
- Official CBN Rate: ₦1,421.73 / USD
- Black-Market Rate: ₦1,450 / USD
- Drivers: Rising forex inflows, stronger external reserves, Dangote refinery output, and renewed investor confidence.
- Top Tools: CBN FX Dashboard, AbokiFX, Investing.com
The naira hit its strongest level of 2025, appreciating to ₦1,421.73/$ at the official market in October. Increased forex supply from foreign investors, stronger reserves at $43.17bn, and improved trade balance helped boost confidence in the local currency. For real-time updates, use CBN FX Dashboard for interbank quotes, and AbokiFX for black-market snapshots, each refreshed every minute.
- What’s the gap between CBN & black-market rates? Roughly ₦28, showing mild alignment between official and parallel markets.
- Will the naira strengthen soon? Analysts expect short-term stability as investor inflows and Dangote refinery output continue to ease demand pressure.
- How do oil prices affect rates? Lower imports and steady oil receipts are helping Nigeria build reserves, reducing forex strain and supporting the naira’s resilience.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 8 October 2025
