31/08/2026
Forex Analysis
Our Naira to Dollar moving average has now risen for like the 6th week in a row. Rising external reserves continue to be a factor. It had risen to about $53.3 billion by August 27, an 18 year high. This and continued CBN interventions, have led to stronger confidence in Nigeria’s FX position. The spread between official and parallel rates however, widened to about ₦68/$ as persistent demand for cash dollars for imports, tuition, and travel kept parallel rates elevated.
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