Naira Strengthens Against Major Currencies Amid CBN Support
On October 27, 2026, the Nigerian naira strengthened against major currencies at the Nigerian Foreign Exchange Market. It gained N14.74 against the US dollar, closing at N1,352.87/$1, compared to N1,367.61/$1 in the previous session.
The naira also appreciated by N22.51 to close at N1,803.24/£1 against the pound sterling, and strengthened by N21.76 to close at N1,508.59/€1 against the euro. Despite this appreciation, the naira remained unchanged in the parallel market, trading at N1,380/$1.
Data from the Central Bank of Nigeria indicated that interbank foreign exchange turnover fell by approximately 11.5% to $543.74 million from $614.245 million previously, with the number of transactions declining from 201 to 197. The naira's appreciation was attributed to dollar liquidity support from the Central Bank of Nigeria through authorized dealer banks, aimed at easing foreign exchange demand pressures and supporting the naira after its recent depreciation.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
Read full article
Continue on Legit.ng
Get the week in one email
Top stories, NPFL results, the naira, every Friday morning. Free, one email a week.
Related Stories
Naira Strengthens 8% Against Major Currencies in Forex Market
Naira Weakens Against Dollar and Pound, Gains on Euro
Naira Nears N1,333 as FX Turnover Fluctuates on October 12
Naira Surges N8 Against Dollar, Closing at N1,357/$
Naira Gains Ground Against Dollar as Reserves Rise
Naira Strengthens Against Dollar as CBN Reports Gains
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
