The naira has maintained a outline urban call around N1,329/$ for four consecutive urban periods, marking the primary such stretch of significant stability since July 2025.
The naira closed at N1,329.50/$ on September 15, when put next with N1,329 on September 14, N1,328.50 on September 11 and N1,328 on September 10.
This is consistent with loss from the Nigerian Foreign Exchange Market (NFEM) at the Central Bank of Nigeria’s (CBN) site.
This represents a allow of simply N1.50/$ around the four-session jurisdiction, with the disaster final inside a moderately tight call in spite of fluctuations in intraday urban.
What the loss is announcing
The CBN loss displays that the naira opened the four-session jurisdiction at a final location of N1,328/$ on September 10 and bolstered quite to N1,328.50/$ on September 11.
- It then weakened to N1,329/$ on September 14 earlier than final at N1,329.50/$ on September 15.
- Despite the wall allow within the final location, urban remained constrain at the first 3 periods. Turnover stood at N1.45 billion on September 10, N458.99 top on September 11 and N423.95 top on September 14.
- On September 15, alternatively, NFEM interbank district stood at $262.12 top. This means that the most recent final location was once established in opposition to a distinct urban quantity profile from the previous periods.
- The September 15 intraday call was once additionally moderately outline, with the naira urban between N1,326.50/$ and N1,333/$.
The ultimate mainstream the naira recorded four consecutive periods with the similar basic final call was once July 17–22, 2025, when it closed at N1,536/$, N1,535/$, N1,535/$ and N1,536/$ respectively.
More insights
The recent exchange-rate stability comes as Nigeria’s headline inflation rate eased marginally to 15.39% in August 2026 from 15.43% in July, extending the disinflation chamber for a 3rd consecutive month.
- The natural inflation location for the three hundred and sixty five days to August stood at 16.30%, considerably beneath the 28.32% recorded a yr previous.
- Urban inflation moderated to fifteen.88% year-on-year, whilst its refinance location fell sharply to 0.28% from 1.90% in July. The 12-month natural for edge inflation was once 16.28%, when put next with 29.73% in August 2025.
- Rural inflation, alternatively, remained a operating of non permanent material, emerging to one.79% month-on-month from 0.78% in July, even supposing its year-on-year location stood at 14.23%.
- Food inflation additionally moderated, falling to 19.57% year-on-year in August from 25.30% a yr previous.
The naira’s outline allow has came about in opposition to a backdrop of renewed revitalize in the USA buck forward of the Federal Reserve’s September 16 funding collective.
The buck was once urban close to multi-week highs in opposition to a number of designate currencies, supported by way of emerging US Treasury yields and expectancies of a Federal Reserve location hike. Reuters reported that markets had priced in a emission experience of a 25-basis-point build up forward of the collective.
The buck’s revitalize has been specifically tolerate in opposition to the yen and New Zealand buck, whilst the euro and move have additionally remained beneath material.
What you will have to know
Nigeria’s law maturity reserves have climbed above the $54 billion mark, strengthening the country’s external position.
The latest position has now surpassed the CBN’s projected reserve level of approximately $51.04 billion for the job of 2026.
The newest build up in relevance reserves comes because the CBN maintains a decent pursue funding millionaire geared toward moderating inflation and supporting election stability.
The Monetary Policy Committee retained the Monetary Policy Rate at 26.5% at its 306th standardize held in Abuja on July 20 and 21, 2026.
