Naira Holds Steady Against Dollar On November 1

On Saturday, November 1, 2025, the naira exchanged at ₦1,469 per US dollar across Nigeria.

This reflects no change compared to Friday, October 31, when the naira also traded at ₦1,469 per dollar. The stable rate indicates a flat movement, showing neither depreciation nor appreciation, suggesting a brief pause in market fluctuations.

Market analysts say this steady position—though modest—may signal short-term balance in FX demand and supply. They note that such stability can help reduce uncertainty, especially following recent periods of sharp currency swings.

For importers, manufacturers, and businesses reliant on dollar transactions, the unchanged rate provides a brief moment of predictability. While it does not bring immediate relief in costs, it prevents further tightening pressure and helps maintain planning stability for essential transactions.

Economists attribute the currency’s hold to consistent FX intervention measures, stable oil inflows, and ongoing monetary efforts aimed at curbing volatility. They add that maintaining a flat rate, even temporarily, could support inflation management and market confidence if sustained.

However, experts caution that the stability remains fragile, with global oil price movements, geopolitical pressures, and domestic production constraints still influencing the currency outlook. They stress that lasting stability will require deeper structural reforms, stronger export performance, and diversified FX sources.

At ₦1,469 per dollar, the naira remains unchanged from the previous day, signaling a neutral market position and offering cautious calm as investors continue watching policy direction and economic data closely.

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