Naira slips as FX turnover and October liquidity cool

Nigeria’s FX turnover fell 35.41% to $1,696.97 million in the week ended October 2, from $2.63 billion the previous week. The naira then closed at ₦1,332.90 per dollar on October 5. The market’s message: the exchange rate moved, but trading activity also thinned sharply.

Money Moves

• The naira weakened: It closed at ₦1,332.90/$ on October 5, with foreign-exchange activity described as mixed at the start of the new trading month.
• **FX turnover...