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Naira Outlook: Currency Stabilizes as Forecasts Point to Consolidation Band
Abstract：The Nigerian Naira shows signs of stabilization in the official market, with forecasts suggesting a tight trading range between N1,350 and N1,420 against the dollar in the coming week.
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
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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