3ppleloaded 
Official CBN (NAFEX) Rate: ₦1,379.65 / USD
Black-Market Rate: ₦1,400 / USD
Drivers: Naira held steady against the US Dollar; Interbank FX turnover surged 21.14% to $86.136 million, though deal counts declined to 85 from 87. Weekly FX inflows stood at $0.97 billion, with FPIs as the largest source (30.29%), followed by Exporters/Importers (30.14%), Non-bank corporates (26.49%), and CBN (6.93%). Persistent underlying demand keeps depreciation pressures elevated.
Top Tools: FMDQ for NAFEX Data, CBN Forex Portal, Aboki FX
The Naira maintained stability at the official market, holding at ₦1,379.65/. The parallel market remained unchanged at ₦1,400/. Interbank turnover rose 21.14% to $86.136 million, though deal counts fell slightly. Weekly inflows totalled $0.97 billion, with FPIs leading the supply side. Analysts expect the Naira to trade within a stable range, supported by sustained inflows, though underlying demand pressures persist.
FAQ
What’s the gap between CBN & black-market rates? The premium stands at about ₦20.35. Both markets remained unchanged, reflecting a stable spread.
Will the naira strengthen further? Analysts expect the Naira to trade within a relatively stable range, supported by sustained FX inflows and continued CBN market intervention. However, persistent underlying FX demand is likely to keep depreciation pressures elevated. Weekly inflows of $0.97 billion, led by FPIs, provide a solid foundation.
How do oil prices affect rates? While the article does not directly cite oil prices, the weekly inflow breakdown shows $0.97 billion in FX inflows, with FPIs (30.29%) and Exporters/Importers (30.14%) as the top contributors. Strong inflows from diverse sources help support the Naira’s stability.
To get and read our articles fast, follow us on 
