Key points:
Official CBN Rate: ₦1,437 / USD
Black-Market Rate: ₦1,455 – ₦1,465 / USD
Drivers: Limited FX supply for small cash needs, steady importer demand, and persistent liquidity pressure on the parallel market.
Top Tools: Nairametrics, AbokiFX
The naira weakened slightly across both official and parallel markets today, maintaining a ₦18–₦28 premium as demand pressure continues outside formal windows. For real-time updates, use Nairametrics or Cowrywise for interbank quotes, and AbokiFX for black-market snapshots, each refreshed every minute.
FAQ
What’s the gap between CBN & black-market rates? The current spread is ₦18–₦28, reflecting ongoing demand pressure in cash markets.
Will the naira strengthen soon? Mixed liquidity and steady importer demand suggest continued pressure in the near term.
How do oil prices affect rates? While not directly mentioned today, oil revenues traditionally boost FX reserves and support currency stability.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 16 October 2025
