Key points:
- Official CBN Rate: N1,511.5 / USD
- Black-Market Rate: N1,527 / USD
Drivers: Foreign reserves increase, improved crude oil production, non-oil exports rise, and electoral spending concerns
Top Tools: CBN Exchange Rate, Nairametrics, Forex Tracker
The Naira has appreciated in the parallel market, reaching N1,527/$1, marking its highest level since July 2025. In the official market, the Naira traded at N1,511.5/$1. Positive trends in Nigeria's foreign reserves and strong FX liquidity are aiding this upward momentum.
FAQ
- What’s the gap between CBN & black-market rates? The gap between the CBN and black-market rates stands at N15, with the official rate at N1,511.5/$1 and the parallel market rate at N1,527/$1.
- Will the naira strengthen soon? The naira is showing positive momentum, bolstered by rising foreign reserves and improved capital flows, but potential political pressures in 2026 may impact its strength.
- How do oil prices affect rates? Higher oil production leads to increased foreign exchange inflows, stabilizing the naira. However, oil price fluctuations directly influence the demand for dollars in the market.
