The naira closed at N1,333.50 per dollar on Monday, October 19, 2026, appreciating barely from N1,334.20/$ recorded on Friday, October 16, regardless of fluctuations in overseas trade market exercise.
Data revealed on the Central Bank of Nigeria’s (CBN) web site confirmed that the forex traded between N1,332.50 and N1,334.50 throughout Monday’s session.
However, NFEM turnover information for Monday weren’t accessible on the apex financial institution’s web site at the time of submitting this report. The figures come amid a decline in weekly dollar buying and selling and important overseas trade demand earlier within the 12 months.
Naira data marginal appreciation
The naira strengthened by N0.70 towards the dollar between Friday and Monday, whereas the weighted common trade price stood at N1,333.72.
- The easy common trade price was N1,333.76, in accordance with CBN information.
- Interbank market exercise recorded 59 offers, with turnover of roughly N40.60 million.
The closing price remained inside a slender vary, though the accessible information don’t present a whole image of Monday’s NFEM buying and selling exercise.
FX turnover declines in October
Foreign trade turnover diversified throughout buying and selling periods in October, with modifications in exercise recorded in each the NFEM and interbank markets.
On October 14, NFEM turnover stood at roughly N1.02 billion, whereas interbank turnover reached N490.86 million. By October 16, NFEM turnover had fallen to about N837.31 million, with interbank turnover at N258.46 million.
Nairametrics beforehand reported that the worth of {dollars} traded in Nigeria’s overseas trade market fell by 22.23% to $2.62 billion within the week ended October 16, 2026, from $3.37 billion within the previous week. The decline was attributed to slower spot buying and selling and a pointy drop in ahead transactions.
The weekly figures level to lowered buying and selling volumes, though every day turnover can fluctuate significantly between periods.
Dollar demand and portfolio inflows form outlook
Foreign trade demand and capital flows stay necessary indicators for Nigeria’s forex market.
Nairametrics’ evaluation of Financial Markets Dealers Association (FMDA) information confirmed that overseas trade demand reached a 15-year excessive of $18.34 billion within the second quarter of 2026, with demand for {dollars} rising notably in providers and monetary funds.
- Separately, Nigeria’s portfolio funding rose by 45% to $6.51 billion within the second quarter of 2026, in accordance with an earlier Nairametrics report.
- The improve in portfolio funding gives further context for developments in capital flows, whereas the reported fall in weekly dollar buying and selling highlights modifications in market exercise.
- Nairametrics earlier reported that Nigeria’s overseas trade reserves gained $12.76 billion year-on-year to $54.61 billion as of September 14, 2026, reflecting the broader improve within the nation’s exterior liquidity.
Nigeria’s reserves at the moment are above the Central Bank of Nigeria’s projected year-end degree of roughly $51.04 billion for 2026. The projection was reported by Nairametrics in December 2025.
