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Naira Weakens Against Dollar Amid Tight Forex Liquidity

10/14/2025

Summary

Story summary

Nigeria's Naira weakened against the US dollar, with the black market at ?1,492–?1,502 as of October 13, 2025.
The decline stems from rising demand for foreign currency amid tight liquidity.
Analysts expect ongoing volatility and urge more dollar inflows and structural reforms to stabilize the currency.
Fitch Ratings affirmed Nigeria's credit at 'B', noting improved forex liquidity but inflation, governance challenges, and the central bank's interventions.

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Story summary

Nigeria's Naira weakened against the US dollar, with the black market at ?1,492–?1,502 as of October 13, 2025.
The decline stems from rising demand for foreign currency amid tight liquidity.
Analysts expect ongoing volatility and urge more dollar inflows and structural reforms to stabilize the currency.
Fitch Ratings affirmed Nigeria's credit at 'B', noting improved forex liquidity but inflation, governance challenges, and the central bank's interventions.