Naira Declines to N1,334.99/$ Amid Global Dollar Weakness
On October 20, 2026, the naira weakened by 0.11%, closing at N1,334.99 per dollar, down from N1,333.50/$ in the previous session, according to data from the Central Bank of Nigeria (CBN). The currency traded between N1,331.80 and N1,335.00, with a weighted average rate of N1,333.65.
The CBN had not released the deal and turnover figures for the Nigerian Foreign Exchange Market (NFEM) for that day. However, the interbank market recorded 70 deals with a turnover of approximately N60.72 million.
Nigeria's external position has been bolstered by a 45% increase in portfolio investment, reaching $6.51 billion in the second quarter of 2026, and foreign reserves, which rose by $12.76 billion year-on-year to $54.61 billion as of September 14, 2026. The dollar index fell by 0.25% to 101.71, influenced by lower Treasury yields and crude oil prices, while global oil prices also retreated.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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