CBN Naira Exchange Rate Update

The Naira settled at N1,778/£1 against the British Pound in the Nigerian foreign exchange market. The Central Bank of Nigeria is focused on transitioning to a market-determined FX rate regime while managing inflation and foreign investments.

The naira appreciated against the dollar and euro on October 20, 2026, while depreciating against the British pound. The Central Bank of Nigeria reported increased trading activity and a significant year-to-date appreciation of nearly 8% against the dollar.

The naira weakened by 0.11% to N1,334.99 per dollar on October 20, 2026. The Central Bank of Nigeria reported a turnover of approximately N60.72 million in the interbank market, while Nigeria's foreign reserves rose to $54.61 billion.