Nigeria Today's Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 30 January 2026

Key points:

Official CBN (NFEM) Rate: N1,385 / USD
Black-Market Rate: [RATE NOT SPECIFIED] / USD
Drivers: Global retreat of the US dollar; Increased dollar supply and reduced pressure in Nigeria's official foreign exchange window; Improved FX liquidity from exports, remittances, and investments; Domestic reforms like the Electronic Foreign Exchange Matching System (EFEMS), boosting transparency and governance.

Top Tools: CBN Forex Portal, Aboki Fx, Nairametrics


The Naira extended its rally on Thursday, strengthening to N1,385/$1 in the official market, a significant gain fueled by a weaker global dollar and robust domestic dollar supply. The currency's intraday trading showed strong momentum, peaking as high as N1,367/$1, highlighting the combined impact of improved liquidity and supportive international conditions.

• What's the gap between CBN & black-market rates? The article notes an overall improvement in parallel and BDC segments, suggesting the gap is narrowing. However, it does not provide a specific rate. The primary focus is the sustained appreciation and convergence driven by increased transparency and dollar availability in the official market.
• Will the naira strengthen further? The current rally is supported by a favorable mix of global and domestic factors. Sustainability depends on maintaining strong FX inflows from oil, trade, and remittances, as well as the continued effectiveness of market reforms. While the outlook is positive, analysts caution that broader economic conditions, particularly oil price performance, will be critical for maintaining this momentum.
• How do oil prices affect rates? Oil remains a fundamental source of foreign exchange inflows. The improved liquidity supporting the current rally is directly linked to these inflows. Therefore, stable or rising oil prices are essential to sustain the increased dollar supply that is driving the Naira's appreciation and the CBN's enhanced capacity to manage the market.