Leadnaija
Todays Exchange Rate
Official CBN Rate: ₦1,526 / $1
Black-Market Rate: ₦1,550 / $1
Improved FX liquidity, IMF praise for reforms, easing inflation trends
Top Tools: NAFEM Tracker, AbokiFX, FX Rate Today
The naira appreciated across both FX windows on Wednesday. The black-market rate improved to ₦1,550/$1, gaining ₦10, while the official rate closed at ₦1,526/$1 after a ₦3.32 gain.
Analysts link this to increased foreign investor confidence and steady liquidity, while the IMF praised Nigeria’s forex reforms and falling inflation.
For up-to-the-minute rates, monitor NAFEM Tracker and AbokiFX for interbank data and FX Rate Today for black-market prices.
FAQ:
What’s the gap between CBN & black-market rates? ₦24, a narrow spread suggesting reduced speculative pressure.
Will the naira strengthen soon? If FX inflow and reforms persist, the naira may hold steady or gain modestly.
How do oil prices affect rates? Falling oil prices could hurt reserves and pressure the naira, as warned by the IMF.
