Market News
Oil prices fall and stocks rebound after Trump says Iran war could end ‘very soon’ - NEW TELEGRAPH
by Callum Jones and Alex Daniel
The naira depreciated by 1.7 per cent week-onweek to N1,392.63 per dollar in the foreign exchange market amid heightened global risk aversion.
The depreciation occurred despite a $300 million intervention by the Central Bank of Nigeria and inflows from offshore investors, which helped moderate demand pressures.
Nigeria’s gross foreign exchange reserves increased by $236.21 million to $49.93 billion as of March 5, marking the eleventh consecutive week of reserve growth.
In the forward market, the naira weakened across all contracts, with the one-month, three-month, six-month and one-year forward rates depreciating to N1,413.80, N1,455.34, N1,501.65 and N1,599.08 per dollar, respectively.
Analysts expect cautious trading in the equities market next week as investors take profits from recent gains while monitoring global geopolitical developments, macroeconomic indicators and the upcoming first-quarter 2026 earnings season.
