SAT NOV 29 2025-theGBJournal| The naira gained this week by 0.7% w/w to N1,447.95/US$, as the robust supply from the Central Bank of Nigeria (CBN) (US$186.60 million) and inflow from offshore players offset the strong local demand.
In the forwards market, the naira rates appreciated across the 1-month (+0.5% to N1,477.12/US$), 3-month (+0.9% to N1,525.58/US$), 6-month (+1.8% to N1,587.15/US$) and 1-year (+3.4% to N1,711.17/US$) contracts.
The naira is expected to remain stable, supported by robust FX liquidity. We expect the healthy FX reserves, favourable current account position, and firmer global monetary easing to reinforce foreign investor sentiment and stimulate FX market inflows.
Meanwhile, gross FX reserves increased for the nineteenth consecutive week, growing by a strong US$440.64 million w/w to US$44.56 billion (November 26).
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