The Naira recorded a stronger efficiency throughout each the parallel and official international change markets within the first week of September 2025, extending positive factors seen on the tail finish of August.
Nairametrics knowledge present that the naira firmed steadily within the parallel market all through the week.
The foreign money opened at N1,539/$1 on Monday, September 1, maintained the identical stage on Tuesday, inched barely stronger to N1,538/$1 on Wednesday, and closed the week stronger at N1,535/$1 on Thursday.
When in comparison with the primary week of August 2025, the development turns into even clearer.
The naira traded at a lot weaker ranges, beginning at N1,550/$1 on Monday, August 4, sliding additional to N1,565/$1 on each Tuesday and Wednesday, earlier than depreciating to N1,570/$1 on Thursday and Friday.
On a week-on-week foundation, the ultimate week of August confirmed relative stability within the parallel market, with the naira fluctuating inside a slim band.
It opened at N1,543.69/$1 on Monday, August 25, dipped barely to N1,548/$1 on Tuesday, recovered to N1,547/$1 on Wednesday, and firmed as much as N1,543/$1 on Thursday earlier than closing the week at N1,545/$1 on Friday, August 29.
Efficiency on the Official Market
The official market mirrored the positive factors of the parallel market, with the naira appreciating persistently throughout buying and selling days within the first week of September.
The change price opened at N1,527.9/$1 on Monday, appreciated to N1,525.45/$1 on Tuesday, strengthened additional to N1,522/$1 on Wednesday, and closed the week firmer at N1,511.5/$1 on Thursday, September 4.
This represents a big enchancment in comparison with early August, when the naira was weaker at N1,535/$1 on August 7, N1,537.25/$1 on August 6, N1,533.5/$1 on August 5, N1,533.85/$1 on August 4, and N1,535.5/$1 on August 1.
The ultimate week of August additionally confirmed a extra measured efficiency within the official market, because the naira traded at N1,536.99/$1 on August 25, weakened barely to N1,538/$1 on August 26, and N1,537.2/$1 on August 27, earlier than recovering to N1,533/$1 on August 28 and shutting stronger at N1,531/$1 on August 29.
Analysts’ view on the event
Some analysts have attributed this growth to the current improve in diaspora remittances and international portfolio buyers (FPIs).
In accordance with an Abuja-based funding analyst, Gideon Agba, “Let’s not overlook that the CBN reported that our exterior reserves rose to $41.3 billion in August, which supplies extra capability to the apex bank to additional help the naira. That is additionally good for buyers as extra portfolio investments will start to return in as a result of stability of the foreign money, which buyers wish to see.”
The CBN Governor, Olayemi Cardoso, had earlier said that Nigerian diaspora remittances rose by 200 per cent to $600 million within the final two months, considerably boosting Nigeria’s international change profile.
Offshore investor inflows elevated from $1.5 billion in June to $1.7 billion, displaying cautious international investor curiosity when favorable carry commerce circumstances and steady world macroeconomic components are current.
Talking earlier to Nairametrics, foreign exchange merchants attributed the current change price stability to the success of Nigeria’s foreign money swap settlement with Chinese language merchants now gathering naira for its foreign money, the yuan, as a substitute of {dollars}.
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