The Nigerian naira appreciated to N1,337/$ at the official foreign exchange market as of August 28, marking a 0.96% gain for the week. This recovery coincided with Nigeria’s external reserves reaching a 17-year high of $53.11 billion. However, weekly FX turnover at the Nigerian Foreign Exchange Market declined by 48.7% to $2.71 billion, down from the previous week’s $5.28 billion. Despite this drop in liquidity, the CBN maintains that its current market interventions are minimal, attributing currency stability to ongoing structural reforms.