Key Points:
Official CBN Rate: ₦1,436.74 / USD
Black-Market Rate: ₦1,450 / USD
Drivers: Strong Eurobond demand, rising reserves, CBN FX interventions, investor confidence, and easing inflation.
Top Tools: CBN FX Monitor, AbokiFX, RateX Africa
The Naira gained 0.12% at the official market, closing at ₦1,436.74/$1, buoyed by a 477% oversubscription of Nigeria’s $2.35bn Eurobond and stable external reserves at $43bn. Analysts expect short-term stability as oil prices and CBN support sustain confidence despite U.S. geopolitical tension. For real-time updates, use CBN FX Monitor or RateX Africa for interbank quotes, and AbokiFX for black-market snapshots, each refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? About ₦13–₦15 difference, narrowing slightly from earlier in the week.
Will the Naira strengthen soon? Analysts project moderate gains if oil prices hold and CBN continues targeted interventions.
How do oil prices affect rates? Higher oil prices boost reserves and liquidity, supporting a stronger Naira in both official and parallel markets.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 11 October 2025
