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 overseas change market exercise.
Data printed on the Central Bank of Nigeria’s (CBN) web site confirmed that the forex traded between N1,332.50 and N1,334.50 throughout Monday’s session.
However, NFEM turnover information for Monday weren’t out there 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 overseas change demand earlier within the 12 months.
Naira data marginal appreciation
The naira strengthened by N0.70 in opposition to the dollar between Friday and Monday, whereas the weighted common change fee stood at N1,333.72.
- The easy common change 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 slender vary, though the out there information don’t present a whole image of Monday’s NFEM buying and selling exercise.
FX turnover declines in October
Foreign change turnover different throughout buying and selling classes 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 overseas change 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 day by day turnover can fluctuate significantly between classes.
Dollar demand and portfolio inflows form outlook
Foreign change demand and capital flows stay vital indicators for Nigeria’s forex market.
Nairametrics’ evaluation of Financial Markets Dealers Association (FMDA) data showed that overseas change demand reached a 15-year excessive of $18.34 billion within the second quarter of 2026, with demand for {dollars} rising notably in providers 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 supplies extra 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 overseas change 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 at the moment are above the Central Bank of Nigeria’s projected year-end stage of roughly $51.04 billion for 2026. The projection was reported by Nairametrics in December 2025.
