The naira kicked off the week with a sharp rebound Monday at the official CBN window, firming up 0.5% to N1,456.56 per USD after shedding to N1,464.49 last Friday—erasing some prior week’s demand-driven wobbles as fresh inflows and tighter policy hints stabilize the FX rollercoaster under Tinubu’s reform push.
This welcome bounce signals importer pressures easing amid CBN’s reserve builds and rate tweaks, potentially flipping sentiment if oil stays north of $70/bbl and diaspora cash floods in—handing traders relief after volatility tested naira nerves, with eyes now on parallel market echoes and inflation pass-through risks hovering at 14-15%.
Sustained gains could turbocharge investor vibes, but stubborn dollar hunts mean vigilance rules as Naija eyes steady shores in the global FX storm.
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