SAT FEB 14 2026-theGBJournal| The naira finished Friday higher at the NAFEM window, appreciating by 1.1% w/w to N1,360.00/USD, as supply matched market demand, while the market tone remains constructive, driven by liquidity rotation, and easing FX pressures.
The expectation of a resilient corporate performance in the coming week also added boost, though near-term volatility may persist as investors lock in gains.
In the forwards market, the naira rates appreciated across the 1-month (+0.8% to N1,379.73/USD), 3-month (+1.2% to N1,416.53/USD), 6-month (+1.9% to N1,465.41/USD) and 1-year (+2.2% to N1,563.99/USD) contracts.
Notably, the Central Bank of Nigeria (CBN) released a circular, approving the weekly sale of USD150.00 thousand by authorized dealers to licensed BDCs.
Also, the gross FX reserves increased this week by USD505.70 million w/w to USD47.53 billion (February 10).
We expect the naira to remain broadly stable in the near term, supported by a weaker dollar and a favourable external position characterised by a sustained current account surplus and strong foreign exchange reserves.
In addition, continued investor confidence and elevated naira yields should sustain capital inflows, helping to anchor the exchange rate.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
