Naira Strengthens Against Euro, Trading at N1,497
As of October 2, 2026, the naira has recorded a notable gain against the euro, closing at N1,497 per euro for the first time since April 2024. The Central Bank of Nigeria (CBN) reported that the naira remains relatively stable against the US dollar, trading at approximately N1,329.16.
The euro's decline from above N1,680 in late 2025 to around N1,500 in early October 2026 reflects the naira's improvement, influenced by the euro's weakening against the US dollar in the international market. The naira's stability is supported by foreign exchange market reforms, improved liquidity, and Nigeria's external earnings.
The official exchange rates also indicate that the naira traded at N1,766.59 per British pound. The outlook for the naira will depend on foreign exchange inflows, global currency movements, oil earnings, and the CBN's monetary policy.
Actual rates charged by banks may differ due to transaction fees.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
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