Naira Hits N1,335.50/$, Lowest Since August 2026
On October 13, 2026, the naira depreciated to N1,335.50 per dollar, its weakest closing level since August 2026. The currency fell from N1,332.99 per dollar on October 12, representing a decline of N2.51.
This closing rate is the lowest since August 31, when the naira also closed at N1,335.50 per dollar. The depreciation of the naira occurs despite Nigeria's foreign exchange reserves climbing to $58.81 billion on October 12, the highest level since November 2008, according to data from the Central Bank of Nigeria.
The recent trends indicate ongoing challenges in the currency market, as the naira continues to extend its losses.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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