Naira Weakens Amid Dollar Demand Pressure

Naira Weakens Amid Dollar Demand Pressure

The naira fell to ₦1,456.72/$ at the official market last week and ₦1,470–₦1,475/$ in the parallel market due to strong dollar demand, despite CBN interventions.

External reserves rose slightly to $44.19bn, supporting some stability. Analysts expect cautious trading ahead, with intermittent pressure likely unless inflows improve.

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