The Naira endured one in every of its hardest buying and selling weeks in latest occasions, closing constantly above the N1,450/$1 threshold, a rally not seen since October.
This raises expectations that subsequent week’s Financial Coverage Committee (MPC) assembly shall be dominated by considerations over exchange-rate stability.
In accordance with official information from the Central Bank of Nigeria (CBN), the Naira ended the week at N1458/$1 on Friday, after buying and selling at N1459.95/$1 on Thursday, N1451/$1 on Wednesday, N1458/$1 on Tuesday, and N1447/$1 on Monday.
The CBN figures affirm that the foreign money remained above N1,450/$1 for many of the week, demonstrating persistent demand pressures and decreased FX liquidity.
Checks by Nairametrics additional present that this marks the worst weekly shut in six weeks, since Friday, October 17, when the foreign money settled at N1471/$1
Week-on-week, the Naira weakened from the earlier Friday’s shut of N1,444/$1, sliding to N1,458/$1 this week.
The CBN’s day by day buying and selling information additionally reveal an uneven however broadly declining trajectory. The foreign money opened at N1,437.50/$1 on Monday and slipped to N1,440.89/$1 on Tuesday. A sharper drop adopted midweek at N1,444.85/$1 on Wednesday earlier than a modest restoration to N1,441/$1 on Thursday, solely to weaken once more to N1,444/$1 on Friday.
These fluctuations level to a fragile market atmosphere that policymakers might want to confront when the MPC convenes.
Regardless of the Naira’s struggles, Nigeria’s exterior buffers have strengthened. International reserves have surged to $46.7 billion, the best degree recorded since 2018. The CBN Governor, Olayemi Cardoso, disclosed the brand new figures on the twentieth Anniversary of the Financial Coverage Division in Abuja.
Cardoso attributed the development to renewed investor confidence, enhanced oil income inflows, and a extra strong balance-of-payments place. He famous that the present reserve degree, captured as of November 14, 2025, offers 10.3 months of import cowl, calling it “a serious milestone” within the {Bank}’s ongoing reform programme.
This reserve build-up affords some cushion forward of the MPC assembly, although analysts argue that liquidity on the retail FX market stays inadequate to stabilise the Naira within the quick time period.
With foreign money pressures mounting, all eyes flip to the 303rd MPC assembly scheduled for Monday, November 24, to Tuesday, November 25, 2025, in Abuja.
On the earlier assembly, the Committee carried out a slight easing stance, reducing the Financial Coverage Price (MPR) by 50 foundation factors from 27.5% to 27%.
It additionally adjusted the uneven hall across the MPR to +250/-250 foundation factors, from +500/-100 foundation factors.
Different parameters have been retained, together with:
The upcoming assembly is predicted to be notably vital because the MPC balances a posh panorama, rising reserves on one hand, and chronic Naira pressures on the opposite.
Economists anticipate intense debate on whether or not the {Bank} ought to tighten, maintain, or additional ease, particularly as FX stability has develop into a central concern for companies, traders, and households.
