THUR OCT 02 2025-theGBJournal| The naira was quoted around N1,478 to the dollar on the official market on Thursday before settling 0.8% stronger to N1,468.00 vs the dollar.
The currency had flopped before the Independence Day holiday yesterday, down 0.2% to N1,480 vs the dollar after strong performance from previous session.
The bounce seen today ”is derived from the robust support provided by the Central Bank of Nigeria (CBN), and subdued foreign currency demand,” one analysts told theG&BJournal in Lagos.
Analysts suggest the naira performance is also bolstered by easier funding conditions which are helping reduce pressure on liquidity as well as the rising foreign exchange reserves and foreign portfolio inflows.
Traders equally expect the currency to stay strong well into next week.
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