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    Naira Reclaims Value as External Reserves, FX Liquidity Improved

    Julius AlagbeBy Updated:No Comments1 Min Read
    Naira Reclaims Value as External Reserves, FX Liquidity Improved

    Naira Reclaims Value as External Reserves, FX Liquidity Improved

    The naira reclaimed value on Tuesday as US dollar volume or fx liquidity increased at the official window. The local currency gained about N3 on the dollar as demand pressure eased, with the spot fx rate closing at N1433 per dollar.

    The forex market experienced a surge in liquidity balance, driven by inflows from foreign portfolio investors seeking to take positions at this week’s auction.

    As results of higher demand for the greenback, the spot rate had plunged to N1436 at the Nigerian foreign exchange market in the absence of supportive FX inflows.

    The official exchange rate touched an intraday high of N1442.45 per dollar during the day, while the lowest rate printed at N1430.

    Supported by inflows from hydrocarbon revenue, Nigeria’s gross external reserves increased to $43.259 billion from $43.197 billion at the end of October. Oando Plc: Resilient Energy Group Faces Earnings Storm

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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