Key points:
- Official (NAFEM) Rate: ₦1,444.35 / USD
- GTBank Rate: ₦1,454 / USD
- Black-Market Rate: ₦1,465 / USD
- Drivers: Removal from the FATF grey list, higher oil revenues, rising forex inflows, and reduced speculative trading.
- Top Tools: AbokiFX, FMDQ Exchange, FX Monitor
The naira gained ground across all segments on Wednesday as forex inflows improved. Analysts credited Nigeria’s removal from the FATF grey list and stronger oil earnings for easing FX pressure. Market reforms and tighter monitoring have curbed speculation, allowing the currency to stabilise. For real-time updates, use AbokiFX or FMDQ Exchange for interbank quotes, and FX Monitor for black-market snapshots, each refreshed every minute.
- What’s the gap between CBN & black-market rates? Roughly ₦20, showing improved convergence after weeks of pressure.
- Will the naira strengthen soon? Experts say continued inflows and fiscal discipline could sustain mild appreciation.
- How do oil prices affect rates? Higher oil revenues boost reserves and dollar supply, easing market tension and supporting the naira.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for October 7, 2025
