MON SEPT 08 2025-theGBJournal| The Naira rose on Monday in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on the back of strong Foreign Portfolio Investment (FPIs) inflows last week, and amidst robust Central Bank of Nigeria (CBN) intervention.
The currency, closed at N1,512.00/U.S dollar from N1,514.87/US$1, building on the 1.10% gain from last week.
As at close of trade last Friday, Total FX inflows settled at US$567.2 million. Foreign Portfolio Investment (FPIs) led with the highest inflows contributing US$184.1 milion (32.5%) to the overall inflows.
Notably, the CBN intervened in the market accounting for US$173.1 million (30.5%).
Meanwhile, inflows from Exporters and Non-bank Corporates contributed 16.6% and 16.2%, respectively, while others accounted for 4.3%.
Gross external reserves inched up by US$37.85mn w/w (0.09% w/w), reaching US$41.31bn.
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