Key points:
Today's Dollar to Naira Rate: Dollar → Naira Snapshot
Rate for 25 March 2026
Drivers: First appreciation in two working days, gaining ₦5.7 after Monday's ₦34.48 decline; Foreign reserves dropping to $49.61 billion from $49.78 billion; Market recovery following Eid-ul-Fitr holiday pause.
Top Tools: CBN Forex Portal, Aboki Fx
The Naira recorded its first appreciation in two working days, strengthening by ₦5.7 at the official market to close at ₦1,382.63/$. This recovery follows Monday's sharp decline, though the parallel market held steady with no movement, maintaining a range of ₦1,410-₦1,412/$.
FAQ
- What's the gap between CBN & black-market rates? The premium stands in a range of approximately ₦27 to ₦29. The parallel market remained unchanged while the official rate appreciated, resulting in a narrowed spread compared to the previous session.
- Will the naira strengthen further? The appreciation marks a positive reversal after Monday's significant decline. The currency's trajectory will depend on whether this recovery can be sustained. Foreign reserves have dipped slightly to $49.61 billion, which may influence the CBN's capacity for continued support.
- How do oil prices affect rates? The article notes a separate development on oil prices dropping following recent geopolitical moves. This could have implications for future FX inflows, though the immediate recovery appears driven by market adjustment after the holiday period rather than direct oil price movements.
