Naira Outlook: Currency Stabilizes as Forecasts Point to Consolidation Band

The Nigerian Naira (NGN) has entered a period of relative stability within the official foreign exchange market, settling at N1,364 to the dollar following the close of last week's trading session.

Forecast Range Implies Reduced Volatility

Recent data and analyst projections indicate a narrowing volatility cone for the local currency. The near-term forecast suggests the pair will likely oscillate between N1,350 and N1,420 per dollar. This range reflects a tentative balance in liquidity flows within the official window.

• Official Rate: N1,364/$
• Forecast Range: N1,350 - N1,420
• Key Regulator: CBN

Technicals

• Support Level: N1,350
• Market Liquidity: Dependent on USD availability from CBN