Naira Slips Marginally as Forex Inflows Drop to $751.7m, External Reserves Hit $41.08bn
Story Written By Springnewsng August 26,2025
According to Central Bank of Nigeria (CBN) data, the naira closed at N1,536.42/$1 in the Nigerian Foreign Exchange Market (NFEM), weakening by N1.39 compared to Friday’s close of N1,535.03/$1.
In contrast, the parallel (black) market saw the naira gain N5, appreciating to N1,540/$1 on Monday, from N1,545/$1, where it had remained stable since August 18, 2025.
Weekly FX Inflows Decline
Fresh data from Coronation Merchant Bank showed total FX inflows for the week settled at $751.70 million, down from $787.50 million in the previous week. Exporters were the top contributors, providing $216.10m (28.75%) of total inflows, followed by non-bank corporates with $203.90m (27.24%).
- Foreign portfolio investors (FPIs): $175.60m (23.36%)
- CBN: $137.40m (18.27%)
- Individuals: $3.80m (0.50%)
- Other sources: $14.90m (1.87%)
Meanwhile, Nigeria’s gross external reserves rose by $242.08 million (0.59%) to $41.08 billion as of Thursday’s close, according to CBN figures.
Outlook
Analysts expect the naira to remain broadly stable in the near term, supported by consistent FX inflows and CBN interventions, barring any major external shocks.
Last week, the naira had weakened by 0.16% week-on-week in the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,535.04/$1 after touching an intraweek low of N1,536.73/$1. The parallel market, however, fell sharper by 0.65% week-on-week to settle at N1,550/$1.
During the same week, the CBN offered a spot yield of 25.99% per annum on its Open Market Operations (OMO) securities with 124 days to maturity—well above market expectations. Analysts say this move signals the apex bank’s determination to attract offshore inflows and sustain FX liquidity over the medium term.
