The Nigerian Naira has stabilized, trading between N1,370 and N1,385 against the US Dollar, supported by external reserves reaching $51 billion and attractive interest rates. Despite a global surge in the US Dollar driven by geopolitical tensions and inflation expectations, Nigeria’s FX market maintains confidence due to cleared payment backlogs and regulatory improvements. While seasonal corporate demand may cause temporary volatility, analysts expect the currency to remain in a range of N1,320 to N1,420 through the second half of the year.