MON SEPT 29 2025-theGBJournal| The Naira rose 0.9% to NGN1,477/US$1 on Monday at the official foreign exchange market amid robust foreign portfolio inflows and improved supply from exporters.
The appreciation, its strongest performance against the U.S dollar in recent memory, is equally supported by sustained intervention by the Central Bank of Nigeria (CBN).
In the parallel market, the currency mirrored this trend, appreciating by 1.67%
w/w (N25.00 w/w).
Consequently, the premium between the two markets have significantly. It narrowed 1.67% w/w (N25.00 w/w) by close of trade last weekend in the parallel market, mirroring this trend.
In terms of inflow composition, Foreign Portfolio Investments accounted for the largest share at US$318.10 million (32.32%), followed by exporters (25.06%), non-bank corporates (18.32%), the CBN (14.89%), Foreign Direct Investments (5.67%), and other sources (3.74%).
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