Latest figures published by the Central Bank of Nigeria (CBN) show that the naira traded at around ₦1,371 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday.
The official exchange rate fluctuated intraday between approximately ₦1,369 and ₦1,374 per dollar.
The movement reflects ongoing efforts by the CBN to improve foreign exchange liquidity and stabilise the currency market.
Analysts say sustained interventions, alongside improved dollar supply to authorised market participants, have helped reduce volatility in recent weeks.
Recent trading sessions indicate that the naira has maintained relative stability within the ₦1,360 to ₦1,380 range at the official window, despite persistent demand from importers, manufacturers, and individuals requiring foreign exchange for travel and business purposes.
Market observers note that global oil prices, foreign reserve levels, and investor sentiment are likely to remain key drivers of the naira’s performance in the coming days.
