
Key Points:
Official CBN Rate: ₦1,464–₦1,466 / USD
Black-Market Rate: ₦1,470–₦1,480 / USD
Drivers: Improved FX liquidity, stronger oil inflows, steady CBN interventions, and mild global dollar strength.
Top Tools: NAFEM Data Hub, CBN FX Bulletin, AbokiFX
The naira strengthened slightly on Tuesday, October 7, 2025, as improved dollar supply and CBN liquidity operations helped ease market pressure. Traders remain optimistic, though the parallel gap suggests full convergence is still some way off. For real-time updates, use NAFEM Data Hub or CBN FX Bulletin for interbank quotes, and AbokiFX for black-market snapshots refreshed every minute.
FAQs:
What’s the gap between CBN & black-market rates? About ₦10–₦15 per dollar as of today, showing a gradual narrowing.
Will the naira strengthen soon? Possibly, if oil inflows stay steady and the CBN maintains liquidity injections.
How do oil prices affect rates? Higher oil prices boost FX reserves, which support the naira by improving dollar supply.