Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 7 February 2026
Todays Exchange Rate.webp
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: CBN Forex Portal, Aboki Fx
The Naira experienced a marginal contraction at the official market on Friday, losing 13 kobo in what analysts view as a technical pause following its recent appreciation streak. Despite this slight dip, the outlook remains stable, supported by strong fundamentals like growing foreign reserves and renewed investor inflows.
FAQ
What’s the gap between CBN & black-market rates? The premium stands at approximately ₦83.81. While the official rate saw a minor dip, the parallel market rate held steady, indicating persistent but contained demand pressure in the unofficial segment.
Will the naira strengthen further? The short-term outlook points to continued stability. The minor loss is seen as a correction within an overall positive trend. Sustained strength is anticipated, supported by the significant weekly increase in external reserves and ongoing policy confidence, which are expected to counter minor fluctuations.
How do oil prices affect rates? The weekly jump in foreign reserves by over $630 million to $46.91 billion is a direct positive indicator, often fueled by oil earnings. This growing reserve buffer is a fundamental pillar that supports the Naira’s value, provides the CBN with greater intervention capacity, and underpins the positive market confidence cited by analysts.
