{"id":72452,"date":"2025-08-07T10:54:18","date_gmt":"2025-08-07T10:54:18","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=72452"},"modified":"2025-08-07T10:54:18","modified_gmt":"2025-08-07T10:54:18","slug":"naira-mixed-as-reserves-near-40bn-oil-and-gold-retreat","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/08\/07\/naira-mixed-as-reserves-near-40bn-oil-and-gold-retreat\/","title":{"rendered":"Naira Mixed as Reserves Near $40bn, Oil and Gold Retreat"},"content":{"rendered":"

By Merciful Omoba<\/strong><\/p>\n

 <\/p>\n

The naira recorded a mixed performance across currency markets this week, while Nigeria\u2019s foreign reserves climbed toward the $40 billion mark amid sustained inflows.<\/p>\n

 <\/p>\n

According to data from the Central Bank of Nigeria (CBN), on Wednesday, the naira weakened slightly at the official window, closing at \u20a61534.43\/$1 compared to \u20a61533.10 on Tuesday.<\/p>\n

 <\/p>\n

The intraday high hit \u20a61537.25 amid reduced CBN dollar intervention, signaling tighter supply.<\/p>\n

 <\/p>\n

In contrast, the naira appreciated marginally at the parallel market to \u20a61535\/$1, supported by intermittent inflows and strong demand for personal travel allowances.<\/p>\n

 <\/p>\n

Dealers attributed the movements to seasonal pressures, though liquidity has improved in recent weeks.<\/p>\n

 <\/p>\n

Despite reduced CBN activity, analysts say a degree of stability has been maintained due to stronger external reserves and ongoing policy tightening.<\/p>\n

 <\/p>\n

As of Monday, gross reserves stood at $39.814 billion, putting the apex bank in a stronger position to defend the naira if needed.<\/p>\n

 <\/p>\n

Analysts say the naira\u2019s near-term outlook will hinge on global oil trends, central bank policies, and market sentiment, though risks remain from falling oil prices and geopolitical tensions.<\/p>\n

 <\/p>\n

Global oil prices fell sharply, with Brent crude sliding to $66.69 per barrel and West Texas Intermediate down to $64.19, following renewed uncertainty around U.S. sanctions on Russia.<\/p>\n

 <\/p>\n

Comments by former President Donald Trump about progress with Moscow unsettled energy markets.<\/p>\n

 <\/p>\n

Gold also pulled back after recent gains, as spot gold declined 0.39% to $3,368.01\/oz and U.S. futures dipped 0.22% to $3,430.52\/oz.<\/p>\n

 <\/p>\n

Investors are watching for signals from the White House ahead of new Federal Reserve nominations and possible tariff actions against India.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Merciful Omoba   The naira recorded a mixed performance across currency markets this week, while Nigeria\u2019s foreign reserves climbed toward the $40 billion mark amid sustained inflows.   According to data from the Central Bank of Nigeria (CBN), on Wednesday, the naira weakened slightly at the official window, closing at \u20a61534.43\/$1 compared to \u20a61533.10 […]<\/p>\n","protected":false},"author":13,"featured_media":72453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-72452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=72452"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72452\/revisions"}],"predecessor-version":[{"id":72454,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72452\/revisions\/72454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/72453"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=72452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=72452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=72452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}