Naira Sees 1.13% Weekly Gain on FX Liquidity, Interventions
The Nigerian local currency, the naira, appreciated against the U.S. dollar, gaining 1.13% in the official market to close at ₦1,343.64. supported by healthy FX liquidity and interventions.
At the informal segment of the Nigerian currency market, the naira strengthened to N1370 per dollar, supported by $150k weekly sales at the Central Bank rate.
The spot rate fluctuated but stayed positive amidst Apex Bank’s sustained US dollar injections into the official window to keep the local currency stable.
In the absence of additional inflows, Nigeria’s foreign reserves declined to $48.70 billion, largely driven by sustained FX interventions by the Central Bank to stabilise the currency.
Analysts at Cowry Asset Limited stated in a note that the decline in gross external reserves reflected ongoing debt servicing obligations, reduced inflows from oil revenues, and capital outflows amid foreign investor exits.
In the oil market, prices remained under pressure during early Asian trading sessions, following the announcement of a 10-day ceasefire between Israel and Lebanon, alongside signals from President Trump that negotiations with Iran could resume over the weekend.
At the time of writing, the US WTI crude traded below $90, down 10.58%, while Brent crude fell 9.89% to $89.56. Both benchmarks remained well below the triple-digit levels recorded earlier in the week after the previous round of talks collapsed.
“Looking ahead, the naira is expected to remain sensitive to continued Central Bank interventions and evolving foreign exchange liquidity conditions”, Cowry Asset said.
Analysts noted that while recent gains suggest some short-term stability, persistent pressure from external debt obligations, weak oil revenue accretion, and foreign portfolio outflows may limit sustained appreciation.
Market participants will also closely monitor reserve levels for signals on the CBN’s capacity to defend the currency, the investment firm added. In the oil market, volatility is likely to persist as geopolitical developments remain the dominant driver of price action.
Although easing tensions in the Middle East have triggered a sharp pullback in crude prices, any renewed escalation or disruption to supply routes could quickly reverse recent losses.
Analysts said as a result, oil prices are expected to trade within a sensitive range, reacting swiftly to shifts in diplomatic and security developments. #Naira Sees 1.13% Weekly Gain on FX Liquidity, Interventions FirstHoldco Gains 23% on Trading Volume, Pre-Q1 Positioning

