Naira Exchange Rate Fluctuations

The naira depreciated to N1,331.69/$1 at the official market on October 5, 2026, falling by N1.60. FX turnover decreased by 53.2% to $72.119 million, while the number of deals rose to 103. Businesses remain optimistic about future currency stability.

The naira closed at N1,332.90 per dollar on October 5, 2026, reflecting a slight decline from N1,332 on October 2. Foreign exchange trading activity has been mixed, with significant fluctuations noted in recent weeks.

The naira has strengthened to below N1,500 per euro for the first time since April 2024, closing at N1,497 per euro, aided by improved forex conditions and a weakening euro against the dollar.