SAT OCT 04 2025-theGBJournal| The naira rose this week by 1.4% w/w to N1,457.00/USD, driven by sustained inflows from both offshore investors and International Money Transfer Operators (IMTOs).
In the forwards market, the naira rates appreciated across the 1-month (+1.1% to N1,500.46/US$), 3-month (+1.0% to N1,551.09/US$), 6-month (+0.9% to N1,624.24/US$) and 1-year (+0.7% to N1,764.10/US$) contracts.
Analysts maintain a positive outlook on the naira, supported by expectations of sustained FX liquidity.
On the domestic front, 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.
Meanwhile, gross FX reserves increased for the twelfth consecutive week, growing by US$150.99 million w/w to US$42.41 billion (October 2).
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