Naira Stabilizes at N1,329/$ Amid Inflation Easing

The naira has maintained a trading range around N1,329/$ for four consecutive sessions, marking the longest period of stability since July 2025. As of September 15, the naira closed at N1,329.50/$, showing minimal fluctuation from previous days.

The Central Bank of Nigeria (CBN) reported that the naira opened this period at N1,328/$ on September 10 and strengthened slightly to N1,328.50/$ on September 11. The last similar stretch of stability occurred from July 17 to 22, 2025.

This recent stability comes as Nigeria's headline inflation rate eased to 15.39% in August 2026 from 15.43% in July, continuing a disinflation trend. The naira's narrow movement occurs amid a strengthening US dollar, with expectations of a Federal Reserve rate hike.

Nigeria's foreign exchange reserves have surpassed $54 billion, exceeding the CBN's projected level for 2026, as the CBN maintains a tight monetary policy stance, retaining the Monetary Policy Rate at 26.5% during its July 20-21 meeting.