Foreign Exchange Inflows

USD/NGN remains compressed inside a multi-year symmetrical triangle as traders watch whether naira strength can force a deeper downside move. Stronger foreign exchange inflows have improved dollar supply, but oil revenue risks and import demand remain key pressure points.

USD/NGN is coiling inside a multi-year symmetrical triangle as moving averages compress near key support, keeping traders alert for a directional break. Stronger foreign exchange inflows have helped the naira, but oil revenue and import demand remain critical risks.