Nigeria Today's Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 10 April 2026

Key points:

Official CBN Rate: ₦1,365 / USD
Black-Market Rate: [Not specified, but context suggests parallel improvement]
Drivers: Global dollar decline as US dollar index falls 1.3% for the week; Ceasefire optimism in the Gulf reducing safe-haven demand; Expectations of resumed oil shipments through the Strait of Hormuz; External reserves at $48.89 billion (down from $49.18 billion at the month start).
Top Tools: CBN Forex Portal, Aboki FX

The Naira strengthened to ₦1,365/$ on Thursday, benefiting from a broader global decline in the US dollar as easing Middle East tensions reduced safe-haven demand. The dollar is heading for its largest weekly drop since January, driven by optimism that a ceasefire in the Gulf will hold and oil shipments will resume.

FAQ

• What's the gap between CBN & black-market rates? The article focuses on official market dynamics, showing the naira traded within a range of ₦1,351.50 to ₦1,365/$, with an average rate of ₦1,359.90/$. Parallel market rates typically follow similar directional trends, though specific figures are not provided.
• Will the naira strengthen further? The outlook is tied to geopolitical developments. Further appreciation depends on the outcome of ongoing diplomatic talks between the US and Iran in Islamabad. If the ceasefire holds and shipping activity through the Strait of Hormuz returns to normal levels (currently far below the pre-conflict ~140 ships daily), the dollar could weaken further, supporting the naira.
• How do oil prices affect rates? The ceasefire has raised expectations of improved oil supply flows, which has helped weaken the dollar by reducing safe-haven demand. While Nigeria's external reserves have declined to $48.89 billion, the CBN projects reserves could rise to $51.04 billion in 2026, supported by higher oil earnings, sovereign bond issuances, and increased diaspora remittances.