Key points:
- Official CBN Rate: N1,535.78 / USD
- Black-Market Rate: N1,550 / USD
- Drivers: External reserves growth, stable demand, and improved liquidity in the official market.
The Naira saw its first appreciation against the dollar at the official market on Thursday, firming up by N0.95 to N1,535.78 from the previous day’s N1,536.73. At the parallel market, the Naira remained stable at N1,550/$1. With external reserves growing to $41.05 billion, analysts expect further stability. For real-time updates, use CBN FX Data or Black-Market Snapshot for interbank quotes, and Foreign Reserves Updates for market insights, each refreshed every minute.
FAQ
- What’s the gap between CBN & black-market rates? The gap is N14.22, with the official rate at N1,535.78 and the black-market rate at N1,550.
- Will the naira strengthen soon? If the external reserves continue to grow and demand stabilizes, the Naira may experience further gradual strengthening.
- How do oil prices affect rates? Oil prices significantly impact Nigeria's foreign reserves, which, in turn, influence the Naira’s strength or weakness against the Dollar.
- Previous article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 2 July 2025
