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Naira Value Rises To 4 -Month High, Sells At N1,518/$1

by BUKOLA ARO-LAMBO
3 weeks ago
in News
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The value of the Naira rose to the highest level in nearly four months at the Nigeria Foreign Exchange Market (NEFM) selling at N1,518.88 to the dollar as it continued to remain stable at the parallel market where it is selling at N1,550 to the dollar.

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Data from the Central Bank of Nigeria revealed that the naira gained 0.74 per cent to close at 1518/$ on Monday.

The value of the naira had hit its highest level earlier this year selling at N1,491.67 to the dollar on March 4, 2025 before dropping to N1,517.93 to the dollar 10 days later.

Traders say the improved value of the naira is due to increased confidence of investors as portfolio inflow into the market has been on the rise in the last month. Despite volatility at the parallel market, the naira closed on Tuesday selling on the streets at N1,550 to the dollar.

Data from the FMDQ had shown an increase in foreign portfolio inflows which surged to a 29-month high in June 2025, rising by 116.8 per cent month-on-month to $2.73 billion. The jump in foreign inflows accounted for 56.3 per cent of total forex market liquidity in June, up from 18.7 per cent in May.

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Notably, foreign portfolio inflows (FPI) climbed by 133.6 per cent m/m, though inflows from foreign corporates and direct investments fell by 39.8 per cent and 31.6 per cent respectively. The jump in foreign participation was buoyed by improving investor confidence and easing global monetary tightening.

Meanwhile, traders await the decision of the Monetary Policy Committee of the Central Bank of Nigeria. The MPC’s 301th meeting is billed to meet on Monday and Tuesday next week, July 21 and 22, 2025 to determine the policy direction of the country.

At its last meeting, the MPC had left all parameters unchanged retaining the MPR at 27.50 per cent, asymmetric corridor around the MPR at +500/-100 basis points, Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent and Merchant Banks at 16 per cent. The Liquidity Ratio was also left unchanged at 30.00 per cent.


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