The naira closed at N1,333.50 per dollar on Monday, October 19, 2026, appreciating barely from N1,334.20/$ recorded on Friday, October 16, regardless of fluctuations in international alternate market exercise.
Data printed on the Central Bank of Nigeria’s (CBN) web site confirmed that the foreign money traded between N1,332.50 and N1,334.50 throughout Monday’s session.
However, NFEM turnover information for Monday weren’t accessible on the apex financial institution’s web site at the time of submitting this report. The figures come amid a decline in weekly dollar buying and selling and vital international alternate demand earlier within the 12 months.
Naira information marginal appreciation
The naira strengthened by N0.70 towards the dollar between Friday and Monday, whereas the weighted common alternate fee stood at N1,333.72.
- The easy common alternate fee was N1,333.76, in response to CBN information.
- Interbank market exercise recorded 59 offers, with turnover of roughly N40.60 million.
The closing fee remained inside a slim vary, though the accessible information don’t present a whole image of Monday’s NFEM buying and selling exercise.
FX turnover declines in October
Foreign alternate turnover various throughout buying and selling periods in October, with adjustments in exercise recorded in each the NFEM and interbank markets.
On October 14, NFEM turnover stood at roughly N1.02 billion, whereas interbank turnover reached N490.86 million. By October 16, NFEM turnover had fallen to about N837.31 million, with interbank turnover at N258.46 million.
Nairametrics previously reported that the worth of {dollars} traded in Nigeria’s international alternate market fell by 22.23% to $2.62 billion within the week ended October 16, 2026, from $3.37 billion within the previous week. The decline was attributed to slower spot buying and selling and a pointy drop in ahead transactions.
The weekly figures level to lowered buying and selling volumes, though each day turnover can fluctuate significantly between periods.
Dollar demand and portfolio inflows form outlook
Foreign alternate demand and capital flows stay vital indicators for Nigeria’s foreign money market.
Nairametrics’ evaluation of Financial Markets Dealers Association (FMDA) data showed that international alternate demand reached a 15-year excessive of $18.34 billion within the second quarter of 2026, with demand for {dollars} rising significantly in companies and monetary funds.
- Separately, Nigeria’s portfolio funding rose by 45% to $6.51 billion in the second quarter of 2026, in response to an earlier Nairametrics report.
- The enhance in portfolio funding gives further context for developments in capital flows, whereas the reported fall in weekly dollar buying and selling highlights adjustments in market exercise.
- Nairametrics earlier reported that Nigeria’s international alternate reserves gained $12.76 billion year-on-year to $54.61 billion as of September 14, 2026, reflecting the broader enhance within the nation’s exterior liquidity.
Nigeria’s reserves are actually above the Central Bank of Nigeria’s projected year-end degree of roughly $51.04 billion for 2026. The projection was reported by Nairametrics in December 2025.
