dollar to naira rate

Key points: Official CBN Rate: ₦1,420.04 / USD Black-Market Rate: ₦1,490 / USD Drivers: A slight retreat in the official market, ending two consecutive days of appreciation; Continued growth in Nigeria's foreign reserves, which rose to $45.74 billion. Top Tools: CBN Official Website, Aboki Fx...

Key points: Official CBN (NAFEX) Rate: ₦1,419.66 / USD Black-Market Rate: ₦1,490 / USD Drivers: Central Bank of Nigeria (CBN) intervention with a $50 million injection into the official market; Stronger external inflows from Foreign Portfolio Investors (FPIs); Improving current account...

Key points: Official CBN (NAFEM) Rate: ₦1,421.46 / USD Black-Market Rate: ₦1,490 / USD Drivers: Inflow of foreign portfolio investment (FPI); Supportive supply from non-bank corporate sources; CBN policy emphasis on exchange rate stability over rapid appreciation. Top Tools: CBN Forex Portal...

Key points: Official CBN (NFEM) Rate: ₦1,423.82 / USD Black-Market Rate: ₦1,475 - ₦1,490 / USD (range) Drivers: CBN efforts to ensure transparency and steady FX supply for legitimate obligations; Early-year corporate demand; Steadying oil revenues supporting monetary policy. Top Tools: CBN...

Key points: Official CBN (NAFEM) Rate: ₦1,423.17 / USD Black-Market Rate: ₦1,490 / USD Drivers: Supply squeeze in the foreign exchange (FX) market following a period of improved liquidity; Underlying concerns over weak oil prices and potential FX liquidity crises. Top Tools: CBN Forex Portal...

Key points: Official CBN (NAFEX) Rate: ₦1,418.26 / USD Black-Market Rate: ₦1,470 / USD Drivers: Improved price discovery and transparency from recent FX market reforms; Fresh foreign investor inflows boosting reserves to $45.623 billion; Supportive market environment for the spot market. Top...

Key points: Official CBN (NFEM) Rate: ₦1,431.47 / USD Black-Market Rate: ₦1,495 - ₦1,510 / USD (range) Drivers: Balanced demand from school fees and seasonal business imports; Consistent Central Bank of Nigeria (CBN) market interventions; Improved foreign portfolio inflows. Top Tools: CBN Forex...

Key points: Official CBN (NFEM) Rate: ₦1,441.85 / USD Black-Market Rate: ₦1,455 - ₦1,465 / USD (range) Drivers: Resumption of post-festive season business activity; Heightened demand from manufacturers and importers for Q1 restocking; Ongoing efforts for exchange rate convergence through...

Key points: Official CBN (NFEM) Rate: ₦1,430.84 / USD Black-Market Rate: ₦1,495 / USD Drivers: New Year trading momentum; Presidential assurance of strong foreign reserves ($45.4 billion) acting as a buffer against external shocks; Market response to year-end position adjustments. Top Tools...

Key points: Official CBN (NAFEM) Rate: ₦1,445.68 / USD Black-Market Rate: ₦1,480 / USD Drivers: Persistent market demand pressure outweighing Central Bank of Nigeria (CBN) interventions; Lingering investor apprehension following recent security operations; An additional $50 million in CBN FX...

Key points: Official CBN (NAFEX) Rate: ₦1,442.51 / USD Black-Market Rate: ₦1,480 / USD Drivers: Market reassurance by the Finance Minister, Wale Edun, easing investor concerns over recent security operations; Continued Central Bank of Nigeria (CBN) interventions, including a $150 million sale...

Key points: Official CBN Rate: ₦1,442.51 / USD Black-Market Rate: ₦1,475 / USD Drivers: Post-holiday drop in forex demand; Steady month-on-month growth in Nigeria's external reserves. Top Tools: CBN Official Website, Aboki Fx The Naira appreciated in both the official and parallel markets on...

Key points: Official CBN (NAFEX) Rate: ₦1,456.56 / USD Black-Market Rate: ₦1,485 / USD Drivers: A $150 million Central Bank of Nigeria (CBN) forex intervention sale to authorised dealers; Seasonal dollar demand pressure; First weekly decline in Nigeria's foreign exchange reserves after 25 weeks...

Key points: Official CBN (NAFEX) Rate: ₦1,464.49 / USD Black-Market Rate: ₦1,485 / USD Drivers: High seasonal foreign exchange demand; Reduced supply from key sources (exporters, foreign portfolio investors, non-bank corporates); CBN intervention sales that are present but insufficient to meet...

Key points: Official CBN (NAFEX) Rate: ₦1,457.84 / USD Black-Market Rate: ₦1,475 / USD Drivers: Insufficient forex supply from CBN, exporters, and foreign investors; Expected seasonal "Detty December" inflows from diaspora remittances have not yet materialized to offset demand. Top Tools...

Key points: Official CBN (NAFEX) Rate: ₦1,451.82 / USD Black-Market Rate: ₦1,475 / USD Drivers: CBN intervention of $250 million to bolster dollar supply; Significant drop in inflation from 16.05% (Oct) to 14.45% (Nov); Declining overall FX market inflows from the previous week. Top Tools: CBN...

Key points: Official CBN (NFEM) Rate: ₦1,448.68 / USD Black-Market Rate: ₦1,449.56 / USD Drivers: Central Bank of Nigeria (CBN) liquidity management; High benchmark Monetary Policy Rate (MPR) at 27.00%; Early stages of anticipated year-end corporate and personal FX demand. Top Tools: CBN Forex...

Key points: Official CBN (NAFEM) Rate: ₦1,456.07 / USD Black-Market Rate: ₦1,470 / USD Drivers: Intensifying seasonal FX demand for festive period payments; Continued CBN market interventions to manage volatility; Absence of significant non-seasonal inflows from corporates and exporters. Top...

Key points: Official CBN (NAFEX) Rate: ₦1,455.38 / USD Black-Market Rate: ₦1,470 / USD Drivers: Heightened seasonal demand from importers and retailers for the festive period (Yuletide); Mixed signals from the US Federal Reserve's recent policy decision. Top Tools: FMDQ for NAFEX Data, CBN Forex...

Key points: Official CBN Rate: ₦1,451 / USD Black-Market Rate: ₦1,465 / USD Drivers: Balanced seasonal year-end demand pressures; Anticipation of a US Federal Reserve interest rate decision; Gradual market adjustment awaiting further CBN policy signals. Top Tools: CBN Forex Portal, Aboki Fx The...