FRI SEPT 05 2025-theGBJournal| The naira firmed this week by 1.0% w/w to N1,520.00/US$ supported by supply from Foreign Portfolio Investors (FPIs) looking to participate in the OMO PMA and the US$15.00 million intervention from the Central Bank of Nigeria (CBN).
In the forwards market, the naira rates depreciated across the 1-month (-0.4% to N1,572.31/USD), 3-month (-1.5% to N1,646.72/USD), 6-month (-2.5% to N1,751.58/USD) and 1-year (-3.8% to N1,952.87/USD) contracts.
Meanwhile, gross FX reserves increased for the ninth consecutive week, growing by US$216.34 million w/w to US$41.46 billion (Sep 2).
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