CBN Sells $52m to Banks to Maintain Exchange Rate Stability
The Central Bank of Nigeria (CBN) sold $52 million to authorised dealer banks in the foreign exchange market to maintain exchange rate stability.
Spot FX data movement showed that the exchange rate appreciated as the FX intervention from the authority strengthen US dollar volume availability at the supply side.
The authority FX intervention worth $52.00 million was executed between N1,482.55/$ and N1,486.10 per dollar, according to an update from analysts at AIICO Capital Limited.
The naira appreciated 8bps to close at ₦1,487.3651, driven by lower demand and inflow from exports. The currency traded between ₦1,482.55 and ₦1,495.00 during the session.
Updated data from the CBN showed that Nigeria’s gross reserves increased to $42.14 billion as of 22 September 2025, rising by $104.11 million from the previous day.
“The naira to remain at similar level amid robust external reserves.” Elsewhere, oil prices rose by more than $1 a barrel after a deal to resume exports from Iraq’s Kurdistan stalled, pacifying some investor concerns that the restart would add to global oversupply fears.
Brent crude gained $1.88, or 2.85%, to $67.85 a barrel, while U.S. WTI increased $1.34, or 2.15%, to $63.62.
Gold climbed to a fresh record high, aided by safe haven flows amid geopolitical uncertainty and expectations of further Federal Reserve rate cuts, while investors focused on Chair Jerome Powell’s speech later in the day.
Spot gold gained 0.44% to $3,764.29 per ounce, while U.S. gold futures for December delivery closed 0.38% higher at $3,782.15.
Analysts expect oil prices to stay flat to slightly lower as the Iraq–KRG pipeline restart adds supply, outweighing geopolitical support. #CBN Sells $52m to Banks to Maintain Exchange Rate Stability CBN Exposes Dollar Accounts to Exchange Rate Risks
