TUE DEC 16 2025-theGBJournal| The official FX rate rose slightly on Monday by 0.4% to N1,453.00/US$1, despite subdued foreign exchange inflows.
In the parallel market, the currency settled at N1,485.00/US$.
So far, the spread between both markets has narrowed to N30.59US$/1 from N44.57/US$1, from the previous week.
Inflows through the Nigerian Foreign Exchange Market (NFEM) fell to US$716.3 million by close of trade last Friday from US$844.70 million in the previous week.
Foreign Portfolio Investors accounted for the highest share of inflows at 32.98%, followed by exporters at 30.84%, Central Bank of Nigeria CBN (17.36%), Non-bank Corporates (16.94%), others (0.72%) and Individuals (0.63%).
In the forwards market, the naira rates depreciated across the 1-month (-0.4% to N1,485.97/USD), 3-month (-0.5% to NGN1,536.28/USD), and 6-month (-0.9% to N1,599.70/USD) contracts, while it appreciated on the 1-year (+0.3% to N1,726.89/USD) contract.
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