Traders at Access Bank projected that Nigeria’s exchange rates will likely close the month on a stable note, as improved liquidity conditions helped strengthen sentiment in the foreign exchange market, Access Bank’s market update revealed.
The bank’s analysts noted that the week ended with a bullish tone in the fixed income market, supported by strong investor participation and increased liquidity flows into government securities, as highlighted in the update.
Market watchers indicated that improved inflows from foreign investors and steady intervention measures by the Central Bank of Nigeria (CBN) have contributed to easing pressure on the naira, helping maintain relative stability across official and parallel market segments, according to CNBC Africa.
In the fixed income space, bond yields trended lower as demand outweighed supply, signaling investor confidence in short-term stability. Traders believe this momentum may carry into September should liquidity conditions remain favorable, market sources disclosed.
The outlook underscores cautious optimism, with Access Bank traders emphasizing that maintaining consistent liquidity support and transparent policy direction will be key to sustaining both exchange rate stability and investor appetite in Nigeria’s debt market.