December 1, 2025
Due to FX shortage amidst growing demand for foreign payments the naira fell against the US dollar at the official window.
Naira depreciated after $186.60 million was sold to banks last week to boost the supply side.
According to Central Bank of Nigeria, CBN, released daily FX data, the naira lost about N2 per dollar dropping from previous N1446.7421to close at N1448.4355
The updated FX report, reflected that there was pressure in the official window as FX spot rate touched an intraday high of N1452 per dollar on Monday.
Trading data showed spot rate hit an intraday low of N1445, the same rate quoted last week, signalling the CBN intervention impacted the exchange rate at the official window.
READ MORE; Naira Settles At N1,470/$ At Unofficial Market.
Apex Bank stepped up intervention at the official window raised U.S dollar inflows through the Nigerian forex market (NFEM) increased by more than 64%.
The naira faced pressures, but the Apex Bank’s quick and successive FX sales bolstered liquidity conditions in the currency market last week.
Foreign exchange inflows through the Nigerian Foreign Exchange Market (NFEM) increased significantly to US$841.10 million, Coronation Merchant Bank’s research subsidiary said in a note.
READ MORE; Central Bank Boost Naira With $36.6m FX Intervention.
The total amount translates to 64.21% week on week surge compared with US$512.20 million in the previous week, merchant lender said in the note.
A breakdown of trading showed that the CBN accounted for the largest share of inflows at 33.42%, or US$281.10 million.
This was followed by Nonbank Corporates (23.07%), Foreign Portfolio Investors (19.38%), and Individuals (5.45%), while other sources contributed 2.01%.
