MPC Predicts New Exchange Rate, CBN Boosts Forex Liquidity with $574m
A member of the MPC predicts a new exchange rate by December as the CBN injects $574 million to boost forex liquidity, selling $574 million in August 2025 to stabilize the FX market. This marked a 76% increase from July's intervention.
Despite a decline in total FX inflow in August, mainly due to a drop in foreign portfolio inflows, FPIs remained a significant source of inflow. Foreign direct investment weakened, while domestic inflows slowed, impacting the FX market.
The parallel market currency remained stable for international transactions. The CBN's efforts aim to stabilize the exchange rate and ensure market liquidity amid global uncertainties.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Naira Stability Predicted as CBN Injects $50m to Boost Economy
CBN's MPC Members Analyze Naira Stability, Exchange Rate Convergence, and Inflation Risks
CBN MPC Member Forecasts Naira Strengthening to N1,400/$1 by 2025
Experts Predict Possible Rate Cut at CBN MPC Meeting
CBN MPC Considers Rate Cut Amid Inflation Dip
CBN Interventions Maintain Naira Stability Amid 32.9% FX Inflow Decline
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
