dollar to naira rate

Key points: Official CBN (NFEM) Rate: ₦1,382.65 / USD Black-Market Rate: ₦1,380 / USD Drivers: First official market appreciation in over two weeks; Significant narrowing of the parallel-official market gap; Divergent movement with official rate strengthening while parallel rate weakened. Top...

Key points: Official CBN (NFEM) Rate: ₦1,377.04 / USD Black-Market Rate: ₦1,385 - ₦1,395 / USD (range) Drivers: Controlled volatility under CBN's willing-buyer-willing-seller model; High demand for corporate remittances and manufacturing imports; Strong external reserves providing intervention...

Key points: Official CBN Rate: ₦1,368.50 / USD Black-Market Rate: ₦1,390 / USD Drivers: Rising speculative activity driven by doubts about sustained naira appreciation; Dollar supply constraints at the official window; Increased political demand ahead of general elections; Delays and...

Key points: Official CBN Rate: ₦1,363.39 / USD Black-Market Rate: ₦1,375 / USD Drivers: Sustained depreciation throughout the week across both market segments; Confirmation by President Tinubu that the CBN has mopped up dollars from the market; External reserves rising to $49.51 billion, a new...

Key points: Official CBN (NAFEX) Rate: ₦1,349.24 / USD Black-Market Rate: ₦1,365 / USD Drivers: Declining weekly FX inflows; BDC operators yet to commence FX purchases from banks two weeks after CBN policy approval; No CBN inflows into the market during the past week. Top Tools: CBN Forex...

Key points: Official CBN Rate: ₦1,347.78 / USD (Monday's close) Black-Market Rate: Trading at approx. 3.2% premium above the official rate Drivers: Steep year-to-date appreciation (+6.9%) driven by improved official market liquidity; CBN's new policy allowing licensed BDCs to access FX (up to...

Key points: Official CBN Rate: ₦1,337 / USD Black-Market Rate: ₦1,382.50 / USD Drivers: Improved dollar liquidity in the official market; Shifting global geopolitical sentiment (diplomatic talks easing tensions), boosting risk appetite for emerging market currencies; Strongest official closing...

Key points: Official CBN (NFEM) Rate: ₦1,354.86 / USD Black-Market Rate: ₦1,425 - ₦1,440 / USD (range) Drivers: Effective Central Bank of Nigeria (CBN) liquidity management through the Electronic Foreign Exchange Matching System (EFEMS); A Monetary Policy Rate (MPR) positioned to support...

Key points: Official CBN (NAFEX) Rate: ₦1,353.66 / USD Black-Market Rate: ₦1,430 / USD Drivers: Market correction from recent gains; Central Bank of Nigeria (CBN) policy allowing licensed BDC operators to purchase FX from the official market at prevailing rates; Ongoing reforms to formalize...

Key points: Official CBN (NAFEX) Rate: ₦1,366.19 / USD Black-Market Rate: ₦1,450 / USD Drivers: Minor technical correction after recent gains; Rising external reserves, up $632 million to $46.91 billion; Renewed foreign portfolio investment inflows; Reduction in speculative demand. Top Tools...

Key points: Official CBN (NFEM) Rate: ₦1,366.53 / USD Black-Market Rate: ₦1,445 - ₦1,460 / USD (range) Drivers: Consistent CBN interventions and a transparent electronic trading framework; Macroeconomic stability from a moderating inflation rate (15.15%) and a steady Monetary Policy Rate (MPR)...

Key points: Official CBN (NFEM) Rate: ₦1,359 / USD Black-Market Rate: ₦1,450 / USD Drivers: Sustained appreciation trend in the official market; Third consecutive day of gains in the Nigerian Foreign Exchange Market (NFEM). Top Tools: CBN Forex Portal, Aboki Fx The Naira recorded its third...

Key points: Official CBN (NFEM) Rate: ₦1,388.15 / USD Black-Market Rate: ₦1,460 - ₦1,475 / USD Drivers: Successful management of corporate demand and clearance of historic FX backlogs by the Central Bank of Nigeria (CBN); Continued benefits from the Electronic Foreign Exchange Matching System...

Key points: Official CBN (NFEM) Rate: ₦1,384.5 / USD Black-Market Rate: ₦1,465 / USD Drivers: Appreciation in both the official and parallel market segments; Widening of the arbitrage margin between the two markets. Top Tools: CBN Forex Portal, Aboki Fx The Naira appreciated against the US...

Key points: Official CBN (NFEM) Rate: ₦1,396.88 / USD Black-Market Rate: ₦1,465 - ₦1,480 / USD (range) Drivers: Sustained liquidity from the Central Bank of Nigeria's (CBN) consistent policy of clearing verified FX backlogs; Successful integration of the Electronic Foreign Exchange Matching...

Key points: Official CBN Rate: ₦1,391 / USD Black-Market Rate: ₦1,453 / USD Drivers: Improved liquidity and stabilized demand-supply dynamics in the FX market; A significant rise in Nigeria's external reserves to $46.18 billion; Reforms improving market efficiency and transparency. Top Tools...

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...

Key points: Official CBN (NFEM) Rate: ₦1,394 / USD Black-Market Rate: ₦1,490 / USD Drivers: Official-market reforms and improved liquidity conditions; Global U.S. dollar weakness providing external support; A temporary easing of pressure on the local currency. Top Tools: CBN Official Website...

Key points: Official CBN (NFEM) Rate: N1,400.66 / USD Black-Market Rate: N1,480 - N1,485 / USD (range) Drivers: Enhanced transparency and liquidity from the new Electronic Foreign Exchange Matching System (EFEMS); Nigeria's external reserves exceeding $46 billion, providing a strong buffer...

Key points: Official CBN (NAFEX) Rate: ₦1,418.95 / USD Black-Market Rate: ₦1,480 / USD Drivers: Improved foreign exchange market efficiency and higher capital inflows; A current account surplus and broad-based economic recovery; Sustained diaspora remittances; External reserves rising to an...