Naira Strengthens to N1,331.77 Against Dollar in 2026
On October 8, 2026, the naira traded at N1,331.77 per dollar in the official foreign exchange market, its strongest level in two years, up from N1,340. This represents a 24.68% gain from N1,660.49 recorded on October 18, 2024.
The parallel market also saw the naira recover approximately N350 from 2024 levels, reflecting a 25.55% gain. A report by FSDH Merchant Bank noted that the naira strengthened from around N1,650 per dollar in December 2024 to N1,329 per dollar by September 24, 2026.
CBN Deputy Governor Muhammad Sani Abdullahi indicated that of the $10.82 billion recorded in July 2026, $7.33 billion came from autonomous sources. Additionally, headline inflation fell to 15.43% in July 2026 from a peak of 34.8% in December 2024, and real GDP grew by 4.43% in Q2 2026.
The Central Bank of Nigeria, led by Governor Olayemi Cardoso, reduced the Monetary Policy Rate to 23% from 26.5% on September 22, 2026.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
Read full article
Continue on Legit.ng
Get the week in one email
Top stories, NPFL results, the naira, every Friday morning. Free, one email a week.
Related Stories
Naira Gains Against Major Currencies on September 2, 2026
Naira Strengthens Against Dollar as Forex Turnover Surges
Naira Appreciates Slightly to N1,333.50/$ Amid Demand
Naira Gains N11 Against Dollar as Reserves Rise
Naira Strengthens Against Dollar as CBN Reports Gains
Naira Strengthens 8% Against Major Currencies in Forex Market
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
