Key points:
Official NFEM Rate: ₦1,448.03 / USD
Black-Market Rate: ₦1,455–₦1,460 / USD
Drivers: Improved FX liquidity, lower interest rates, CBN interventions, softer inflation
Top Tools: CBN NFEM Window, FMDQ I&E/NAFEM Feed, Abokiforex Live Tracker
The naira held steady on Tuesday as increased liquidity in the formal FX market kept the official NFEM rate at ₦1,448.03, slightly firmer than the previous day. Black-market prices stayed higher at ₦1,455–₦1,460, reflecting stronger cash demand. Analysts say improved inflows, central bank support, and lower inflation continue to stabilise the naira. For real-time updates, use the NFEM/NAFEM window or FMDQ feed for interbank quotes, and Abokiforex for parallel-market snapshots, each refreshed every minute.
What’s the gap between CBN & black-market rates? Around ₦7–₦12, driven largely by demand for physical cash dollars.
Will the naira strengthen soon? Analysts expect modest stability, supported by better liquidity and reduced interest rates.
How do oil prices affect rates? Higher oil prices boost FX inflows, supporting the naira; weaker prices reduce supply and widen market pressure.
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