October 24, 2025
Even as sufficient US dollar volume suppressed demand pressure, naira traded strong week on week, climbed to N1457 at the official currency market.
The updated daily FX data released by the Central Bank of Nigeria, CBN, showed that the naira appreciated by 0.17% to close at ₦1,457.96/$.
Compared to the N1464 it traded the previous day, the spot rate touched intraday high of N1463. This mild gain of N1 for intraday high transactions suggests that in spite of high dollar demand, the supply side was more than enough to supress pressure.
READ MORE; Naira Drops As Rise In FX Demand Dampens CBN Interventions
The spot rate appreciated from N1475 at the beginning of the week and closed at N1457, supported by flood of FX inflows at the official window.
Meanwhile, it was not the same at the parallel market where the naira depreciated by 0.37% to ₦1,491/$, reflecting divergent demand dynamics for the naira across the official and parallel market.
