Naira Rises to N1,365/$ Amid Strong FX Market Demand
On October 26, 2026, the naira closed at N1,365/$, improving from N1,370/$ on October 23. The Central Bank of Nigeria reported that during the trading session, the currency fluctuated between N1,359/$ and N1,380/$, with a weighted average rate of N1,367.61/$.
Although the naira's value increased from Friday's close, it is still 2.5% weaker than its rate of N1,332/$ on October 2. The foreign exchange market in Nigeria is experiencing significant utilization across various sectors, supported by substantial inflows from autonomous sources.
In June 2026, Nigeria's FX utilization reached a record $7.61 billion, a 78.1% increase from June 2025. Total FX utilization for 2025 rose by 91.1% to $50.93 billion, the highest since 2019.
The currency's near-term direction will depend on the balance of demand and supply in the FX market.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
Read full article
Continue on Nairametrics
Get the week in one email
Top stories, NPFL results, the naira, every Friday morning. Free, one email a week.
Related Stories
Naira Gains Ground Against Dollar, Closes at N1,349/$
Naira Fluctuates as Official Market Gains, Black Market Declines
Naira Weakens Against Dollar and Pound, Gains on Euro
Naira Strengthens to N1,548/€ Amid Improved FX Liquidity
Naira Strengthens to N1,331.77 Against Dollar in 2026
Naira Nears N1,333 as FX Turnover Fluctuates on October 12
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
