Key Points:
- Official CBN Rate: ₦1,466 / USD
- Black-Market Rate: ₦1,450 / USD
- Drivers: Export inflows, tighter speculative activity, modest liquidity injections
- Top Tools: AbokiFX, FMDQ, CBN FX Monitor
The naira extended its steady run on Monday, trading at ₦1,466 per dollar officially and ₦1,450 in the street market. Improved forex supply and reduced speculation helped narrow the rate gap, though analysts warn of continued vulnerability to external pressures and policy shifts. For real-time updates, use AbokiFX or FMDQ for interbank quotes, and CBN FX Monitor for black-market snapshots, each refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? About ₦16, one of the narrowest spreads in recent months.
Will the naira strengthen soon? Only if export inflows remain strong and the CBN sustains liquidity support.
How do oil prices affect rates? Higher oil prices boost FX reserves and typically strengthen the naira.
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