November 27, 2025
In order to shore up the value of the naira, the Central Bank of Nigeria, CBN, sold US dollars to authorised dealers and banks at the Nigerian foreign exchange market to argument forex supply.
According to updated FX data obtained on Tuesday, the CBN maintained its FX intervention strategy to reduce pressures on the naira, selling $36.60 million to stabilise market demand.
The latest FX injection came in addition to $40 million supplied last week. Official daily FX update showed the Naira appreciated by 23 basis points, or N3.40 to close at N1,442.9201/$ on Wed, trading within a range of N1,445.00/$ to N1,436.50/$ during the session.
Analysts said, the positive exchange rate movement was driven by improved supply levels outpacing available demand, adding that the naira outlook remains positive with increased external buffer.
READ MORE; CBN Intervenes With $50m In FX Market As Naira Encounters Pressure
Current data showed that amidst fluctuating global prices of crude oil and production volume, Nigeria’s gross external reserves increased by $48.4 million day-on-day to $44.5 billion as of November 25, 2025.
As U.S. investors assessed prospects of oversupply and talks over a Russia-Ukraine peace deal, global oil prices were little changed on Wednesday after sliding to a one-month low in the previous session.
Brent crude rose by 1.20%, amounting to 74 cents and closed at $62.54 per barrel, while U.S. West Texas Intermediate, WTI, increased by 0.21% which was 12 cents, to $58.07 per barrel.
Gold prices hovered near an over-one-week high after expectations the U.S. Federal Reserve will trim interest rates, next month kept non-yielding bullion a favoured asset.
READ MORE; Official Market Rate: Naira Lost N5.60 per US Dollar.
Spot gold spiked by 0.93% to $4,169.42/oz, while U.S. gold futures gained 0.63% to $4,203.80/oz.
Supported by rising Fed rate-cut expectations and firmer oil and gold prices but tempered by ongoing uncertainty over oil supply and global demand dynamics, analysts expect markets to remain cautiously optimistic.
