SAT NOV 15 2025-theGBJournal| The Naira gained 0.5% w/w to N1,435.00/US$1 by close of official trade on Friday amid a buoyant US$50.00 million intervention from the Central Bank of Nigeria (CBN).
Analysts maintain their positive outlook on the naira, supported by expectations of sustained FX liquidity.
In the forwards market, the naira rates fell across the 1-month (-0.2% to N1,470.81/USD), 3-month (-0.5% to N1,500.62/USD), 6-month (-0.1% to N1,591.12/USD) and 1-year (-0.2% to N1,727.58/USD) contracts.
”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 firmer global monetary easing are expected to reinforce foreign investor sentiment and stimulate additional FX market inflows,” analysts at Cordros Research said in a note to theG&Bjournal.
Meanwhile, Nigeria’s gross foreign exchange (FX) reserves rose for the seventeenth consecutive week, growing by US$187.11 million w/w to US$43.54 billion (November 13).
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