Naira Gains to N1,333/$ Ahead of Inflation Report Release
On October 14, 2026, the naira strengthened to N1,333 per dollar at the Nigerian Foreign Exchange Market, gaining N2.50 from its previous closing rate of N1,335.50. This movement occurred ahead of the National Bureau of Statistics' release of Nigeria's September inflation report on October 15.
The Central Bank of Nigeria reported that the exchange rate fluctuated between N1,330 and N1,334.50 during the trading session, with a weighted average rate of N1,332.59. The naira's appreciation follows a trend of easing inflation, with Nigeria's headline inflation rate decreasing to 15.39% in August from 15.43% in July.
The upcoming September report will indicate whether this trend continued. Additionally, the zero turnover recorded on October 14 in the Nigerian Foreign Exchange Market does not reflect a lack of trading, as interbank activity was noted.
Investors are closely monitoring domestic inflation alongside global currency market developments.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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