Foreign exchange market: the naira strengthens at $1,514/$, close to its highest level in five months : Orishas-finance

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Foreign exchange market: the naira strengthens at $1,514/$, close to its highest level in five months

08/09/2025

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Foreign exchange market: the naira strengthens at $1,514/$, close to its highest level in five months

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Data for the Central Bank of Nigeria indicate that the naira traded near a 5-month high of $1,514.86 on the official window at the close of last week.

The naira had last strengthened under the $1,515/$ mark on March 6, closing at 1,512.30/$ on the NFEM. On the parallel market, it also appreciated, reaching $1,538/$, an increase of 0.02%.

Analysts say that the strength of the naira has was supported by improved liquidity and sustained inflows of dollars. The Central Bank of Nigeria has also entered the market at an amount of approximately 15 billion dollars.

AIICO Capital said that the foreign exchange market has opened the week on a calm note, with balanced flows maintaining the stable rates around $1,527 to $1,533/N and no intervention from CBN was not needed.

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