The naira traded near N1,333 per greenback on Monday, October 12, 2026, as reported turnover within the Nigerian Foreign Exchange Market (NFEM) fluctuated sharply throughout buying and selling periods.
Data from the Central Bank of Nigeria (CBN) confirmed that the forex closed at N1,332.99 per greenback on October 12, in contrast with N1,332.49 on October 9, representing a depreciation of fifty kobo.
The alternate price remained inside a comparatively slender vary throughout the early October periods, whereas international alternate reserves continued to rise, offering additional context for developments out there.
Naira trades round N1,333 per greenback
The naira traded inside a slender vary throughout the first two weeks of October, with its closing price fluctuating round N1,330 to N1,334 per greenback.
On October 8, the forex closed at N1,333.55 per greenback earlier than appreciating to N1,332.49 on October 9. It then weakened barely within the subsequent reported session, closing at N1,332.99 on October 12.
The CBN knowledge confirmed the next closing charges throughout the interval:
- October 5: N1,332.90 per greenback.
- October 6: N1,331.50 per greenback.
- October 7: N1,332.75 per greenback.
- October 8: N1,333.55 per greenback.
- October 9: N1,332.49 per greenback.
- October 12: N1,332.99 per greenback.
The newest price displays a modest depreciation from the earlier reported session, with the naira persevering with to commerce across the N1,333 degree.
NFEM turnover fluctuates sharply
Reported international alternate turnover diverse significantly throughout the early October buying and selling periods, with some days recording considerably greater exercise than others.
The provided CBN knowledge confirmed NFEM turnover of roughly N1.21 billion on October 8 and N1.01 billion on October 6. Turnover declined to about N311.13 million on October 7 and N488.65 million on October 9.
Other reported figures included:
- October 5: roughly N619.22 million in NFEM turnover.
- October 8: roughly N1.21 billion, the best among the many listed October periods.
- October 9: roughly N488.65 million.
- October 12: CBN is but to offer NFEM turnover for the buying and selling session on the time of submitting this report, though interbank turnover stood at roughly N36.24 million.
The figures level to uneven buying and selling exercise throughout the interval. However, the October 12 entry data zero NFEM turnover, so it shouldn’t be handled as proof of a whole absence of international alternate transactions throughout the broader market.
External reserves proceed to strengthen
Nigeria’s foreign exchange reserves rose by approximately $115 million in six days to $55.07 billion as of October 8, 2026, extending the upward pattern recorded in September, in response to a earlier Nairametrics report.
These reserve positive factors present additional context for developments within the international alternate market, though the newest each day exchange-rate knowledge present the naira buying and selling near N1,333 per greenback.
