The naira showed mixed performance at the foreign exchange markets despite increased liquidity from foreign inflows and CBN interventions.
At the official Nigerian Foreign Exchange Market (NFEM), the naira depreciated marginally by 0.05%, closing at N1,488.60/$1. Intraday trades ranged between N1,486 and N1,492.
This occurred even after the CBN injected $150 million into the market last week, with total inflows rising to $605 million from $550.9 million the week before.
At the parallel market, however, the naira gained 0.25% to close at N1,517/$1 due to subdued demand. Foreign portfolio investments dominated inflows at $251.7 million (41.6%), followed by exporters (19.72%), non-bank corporates (13.33%), FDI (8.94%), and the CBN (6.10%).
Meanwhile, external reserves hit $42.03 billion as of September 19, 2025 — the highest since 2019. Oil prices remained under pressure, with Brent crude falling 1.25% to $66.15/bbl amid oversupply concerns, weak demand, and US inventory builds. Year-to-date losses widened to 11.37%.
Analysts say Fed rate cuts may weaken the dollar and support commodities, but slowing global demand continues to weigh heavily on crude markets.
