The naira rose to a five-month high of 1514.86/$ at the official market, supported by $15m CBN intervention and fresh portfolio inflows. Analysts expect stability but warn of oil price risks
Naira Hits Five-Month High at 1514.86/$ as Dollar Inflows Boost Market
Abuja, Nigeria – September 8, 2025
The naira closed last week near a five-month high, trading at ₦1514.86/$ on the official window, according to Central Bank of Nigeria (CBN) data.
The local currency opened September at ₦1526.09/$, before strengthening to ₦1514.86/$ on Thursday at the Nigerian Foreign Exchange Market (NFEM). The last time the naira traded below the ₦1515/$ threshold was on March 6, when it closed at ₦1512.30/$.
At the parallel market, the naira also firmed slightly, appreciating to ₦1538/$, representing a 0.02% gain.
The rally was supported by a $15 million CBN intervention alongside increased portfolio inflows, which improved dollar liquidity and pushed rates into the ₦1519–₦1523/$ range.
Analysts predict the naira could remain relatively stable across both official and parallel markets in the coming week, citing steady inflows and modest growth in external reserves. However, they warn that speculative demand and global oil price volatility may limit further gains.
The upcoming OPEC+ meeting is expected to play a key role in determining crude oil prices, which in turn could influence Nigeria’s foreign exchange earnings and market stability. Read More
