Nigeria Today's Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 25 April 2026

Key points:
Official CBN Rate: ₦1,361.50 / USD
Black-Market Rate: [Not specified]
Drivers: Sustained demand pressures from importers and manufacturers; Constrained FX supply; Persistent market uncertainty; External reserves declining to $48.4 billion from $48.54 billion at week start; Weekly depreciation of nearly ₦20.
Top Tools: CBN Forex Portal, Aboki FX

The Naira extended its losing streak on Friday, closing at ₦1,361.50/$,its weakest level in three weeks since April 9 (₦1,365/$). The currency has depreciated nearly ₦20 within one week, from ₦1,342.50/$ last Friday, reflecting sustained demand pressures, constrained FX supply, and lingering market uncertainty.

FAQ

• What's the gap between CBN & black-market rates? The article focuses on official market dynamics, showing a persistent downward trend across multiple sessions. Forex trading analyst Samuel Obadofin noted, "Demand for dollars is still significantly higher than supply, especially from importers and manufacturers who rely heavily on FX for their operations."
• Will the naira strengthen further? The near-term outlook remains challenging. Obadofin explained, "What we are seeing is a mid-week spike in dollar demand, which tends to push rates higher toward the end of the trading week. Until liquidity improves, this pattern may persist." Analysts note that while exchange rate reforms have improved market structure, short-term pressures remain unresolved.
• How do oil prices affect rates? Higher oil prices could support Nigeria's FX inflows, but global uncertainties may offset these gains. Global dollar strength and fluctuations in oil prices have added to pressure on Nigeria's FX earnings. CBN Governor Olayemi Cardoso has stated that the recent decline in external reserves "should not be a cause for concern."