Key Points:
- Official CBN Rate: ₦1,436 / $1
- Black-Market Rate: ₦1,460 / $1
- Drivers: CBN liquidity injections, higher oil revenue, diaspora inflows, reduced speculation, new 15% import levy on fuel
- Top Tools: AbokiFX, NAFEM Tracker, CBN Rate Portal
The naira firmed at both official and parallel markets, trading at ₦1,436/$1 and ₦1,460/$1, respectively. Gains were supported by CBN interventions, improved reserves, and fiscal policies aimed at stabilising FX demand amid lower speculative activity. For real-time updates, use AbokiFX or NAFEM Tracker for interbank quotes, and CBN Rate Portal for official snapshots, each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? ₦24, reflecting improved alignment across both markets.
- Will the naira strengthen soon? Stability is likely short-term as policy and oil inflows support demand management.
- How do oil prices affect rates? Higher crude revenues boost reserves and CBN capacity 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 October 7, 2025
