Nigeria’s foreign exchange market received another round of support as the Central Bank of Nigeria (CBN) released $36.60 million to authorised dealers and commercial banks, continuing its effort to stabilise the naira through targeted interventions.
According to newly updated FX market data, the CBN maintained its consistent strategy of supplying dollar liquidity to curb volatility and offset market demand. This latest tranche follows the $40 million supplied the previous week, reinforcing the Apex Bank’s push to keep the currency market balanced.
Wednesday’s official trading data showed the naira strengthened by 23 basis points—equivalent to N3.40—closing at N1,442.9201/$ after trading between N1,445.00/$ and N1,436.50/$ during the session. Analysts attributed the slight appreciation to improved dollar availability that exceeded prevailing market demand.
Market watchers say the outlook for the naira remains generally upbeat, helped by growing external buffers and steady foreign currency inflows.
Fresh figures from the CBN indicated that Nigeria’s gross external reserves rose by $48.4 million in a single day, reaching $44.5 billion as of November 25, 2025, despite global oil market instability and fluctuating production levels.
On the international energy scene, crude oil prices steadied on Wednesday after dropping to a one-month low in the previous trading session. Investors in the U.S. weighed concerns over potential oversupply and reports of ongoing diplomatic dialogue aimed at advancing a Russia-Ukraine peace framework.
Brent crude edged upward by 74 cents, or 1.20%, to settle at $62.54 per barrel, while the U.S. West Texas Intermediate (WTI) crude inched up by 12 cents, or 0.21%, to close at $58.07 per barrel.
Meanwhile, gold prices hovered just below their highest point in more than a week as expectations of a possible U.S. Federal Reserve rate cut in the coming month kept investors favouring non-yielding assets. Spot gold advanced by 0.93% to $4,169.42 per ounce, while U.S. gold futures climbed 0.63% to $4,203.80 per ounce.
Analysts expect financial markets to retain a cautiously optimistic tone, buoyed by stronger expectations of Fed rate cuts and firmer gold and oil prices. However, they warn that uncertainties around global energy supply and demand could continue to influence market mood in the weeks ahead.
