CBN Reports Naira Gains Against Major Currencies

The Central Bank of Nigeria (CBN) confirmed a new exchange rate on September 30, 2026, as the naira appreciated against the US dollar, British pound, and euro. The official exchange rate for the dollar closed at N1,330.47, a 0.06% increase from the previous session's N1,331.33.

The dollar traded within a range of N1,327.50 to N1,331.50 during the day. Interbank foreign exchange turnover surged by about 226% to $80.58 million, up from $24.73 million, indicating improved dollar liquidity.

In the parallel market, the dollar was quoted at approximately N1,375, reflecting a 0.36% appreciation and narrowing the gap between official and parallel rates to about N45 per dollar. The official exchange rates for the British pound and euro were N1,760.62 and N1,509.56, respectively.

Nigeria's gross external reserves increased to about $54.91 billion, compared to $45.50 billion at the year's start, providing further support for the CBN's management of market volatility.