SAT SEPT 27 2025-theGBJournal| The naira fell this week by 0.2% w/w to N1,490.00/USD, despite the US$70.00 million intervention by the Central Bank of Nigeria (CBN), but analysts maintained a positive outlook on the naira.
Traders believe rising non-oil exports and improving market confidence should underpin inflows, while externally, healthy FX reserves, a positive current account position, and a shift toward global monetary easing are expected to reinforce foreign investor sentiment and stimulate additional FX market inflows
In the forwards market, the naira rates rose across the 1-month (+0.4% to N1,516.47/US$), 3-month (+0.6% to N1,566.22/US$), 6-month (+0.7% to N1,638.41/US$) and 1-year (+1.2% to N1,776.61/US$) contracts.
Meanwhile, gross FX reserves increased for the eleventh consecutive week, growing by USD192.95 million w/w to US$42.23 billion (September 25).
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