November 25, 2025
Updated data released by Coronation Merchant Bank Limited, revealed that, volume of US dollar inflow into the Nigerian currency market dropped further last week, down by about 24% to close at $512.20.
Inflows of US dollar into the official foreign exchange market week on week, have remained on the decline as foreign portfolio investment and exporter’s flows weakened.
FX inflows into the currency market last week, fell by 24% and the same falling spree was recorded previous week, a situation that weakened the naira exchange rate and forced the Central Bank to intervene.
Coronation Merchant Bank research subsidiary, said, Foreign exchange inflows through the Nigerian Foreign Exchange Market (NFEM) moderated to US$512.20 million, compared with US$672.30 million in the previous week.
READ MORE; CBN Intervenes With $50m In FX Market As Naira Encounters Pressure
In November, total inflows had peaked at $1.37 billion, supported by offshore investors seeking to boost their portfolio holding in Nigerian market but maintain downward trend week on week.
A breakdown of last week FX inflows showed that Foreign Portfolio Investors (FPIs) accounted for the largest share of inflows at 38.77% or US$198.57 million of the total sum.
The firm reported that Exporters contributed 32.90% of the FX total, Nonbank Corporates (14.89%), Individuals (9.68%), while other contributors accounted for 3.76%.
The Naira weakened across the official and parallel market segments trading last week, at the official window, the currency depreciated by 0.98% week on week to close at N1,456.72/US$, while in the parallel market rate it shed 1.02% week on week to settle at N1,465.00/US$1.
READ MORE; Naira Rebounds Against USD Close At ₦1,442.43/$.
Consequently, the premium between the two markets widened slightly to N8.28/US$1,from N7.57/US$1 in the prior week.
According to Coronation, “We expect the exchange rate to remain within a similar band below the N1,500/US$1 level, supported by steady liquidity conditions and CBN interventions.”
