Nigeria Today's Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 23 April 2026

Key points:

Official CBN (NFEM) Rate: ₦1,351.59 / USD
Black-Market Rate: ₦1,465 - ₦1,480 / USD (range)
Drivers: Sustained demand for dollars to fund international trade and service foreign debt; Fluctuations in global oil prices affecting external reserves; Mid-week demand for the greenback influencing rate stability.

Top Tools: CBN Forex Portal, Aboki Fx

The Naira softened slightly in early Thursday trading, with the official rate at ₦1,351.59/$—a marginal decline from support levels near ₦1,347 earlier in the week. The parallel market premium widened significantly, with rates ranging between ₦1,465 and ₦1,480/$, creating a spread of approximately ₦113.

FAQ

• What's the gap between CBN & black-market rates? The premium has widened significantly to approximately ₦113. This gap is attributed to unmet demand from small-scale importers and individuals seeking personal travel allowances (PTA), who often find official channels more stringent.
• Will the naira strengthen further? The current pressure on the Naira is largely attributed to sustained demand for dollars to fund international trade obligations and service foreign debt. As the trading session progresses, participants expect the rate to stabilize, though any significant CBN intervention or shifts in liquidity could alter the closing figures.
• How do oil prices affect rates? Recent fluctuations in global oil prices—Nigeria's primary source of foreign exchange- continue to dictate the strength of the nation's external reserves. The CBN maintains a policy of managed float to curb excessive volatility while ensuring essential sectors have access to foreign currency.