The naira has largely been stable around N1,329/$ for four days in a row, the longest time since July 2025.
The Nigerian Foreign Exchange Market data on the Central Bank of Nigeria website closed the currency at N1,328/$ on September 10, N1,328.50/$ on September 11, N1,329/$ on September 14 and N1,329.50/$ on September 15.
The News Chronicle reports that the naira moved by just N1.50/$ across the four sessions, despite active trading during the period.
Interbank turnover was N1.45 billion on September 10, N458.99 million on September 11 and N423.95 million on September 14. Turnover hit $262.12 million, while the currency traded between N1,326.50/$ and N1,333/$ on Friday.
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Notably, the CBN has been maintaining a tight monetary policy as the foreign exchange reserves in Nigeria crossed the $54 billion mark.
The MPC kept the benchmark interest rate at 26.5 percent during its July meeting, even as the headline inflation dropped slightly to 15.39 percent in August.
The naira has also been gaining ground steadily against other currencies, contrasting the currency’s fluctuating fortunes in the preceding months.
