SAT OCT 25 2025-theGBJournal| The naira rose this week by 0.5% w/w to N1,466.00/USD at the official foreign exchange market, driven by increased supply.
Rising non-oil exports and improving market confidence underpinned the inflows, while healthy FX reserves, a positive current account position, and a shift toward global monetary easing are reinforced foreign investor sentiment and stimulated additional FX market inflows.
In the forwards market, the naira rates rose across the 1-month (+0.7% to N1,491.57/USD), 3-month (+0.7% to N1,541.95/USD), 6-month (+1.0% to N1,613.89/USD) and 1-year (+1.5% to N1,753.43/USD) contracts.
Meanwhile, gross FX reserves increased for the fifteenth consecutive week, growing by USD183.36 million w/w to USD42.87 billion (October 22).
Analysts maintain a positive outlook on the naira, supported by expectations of sustained FX liquidity.
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