SAT JULY 26 2025-theGBJournal| The naira depreciated by 0.4% w/w to N1,538.00/US$, as demand pressures emerged, outweighing supply.
Notably, CBN intervened this week, selling c.US$81.00 million to the market.
In the forwards market, the naira rates appreciated across the 1-month (+0.2% to N1,576.21/US$), 3-month (+0.4% to N1,647.65/US$), 6-month (+0.3% to N1,757.35/US$) and 1-year (+0.3% to N1,966.40/US$) contracts.
Meanwhile, the gross FX reserves increased for the third straight week by USD778.34 million w/w to USD38.63 billion (July 24).
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