4 results for “forex”
Banks, fintechs and insurers are now the biggest source of dollar demand, underscoring how Nigeria's FX market is being reshaped by a deeper financial system.
The naira strengthened at the official window while holding near N1,358 in the parallel market as traders positioned for the September inflation release.
Lower intervention reflects a calmer currency market and record reserves, but analysts caution it may also signal compressed import demand rather than a self-sustaining market.
Gross external reserves rose to an all-time high of $55.07 billion in early October while net reserves climbed to a record $46 billion, CBN Governor Olayemi Cardoso said.