The naira weakened to N1,332.75/$ on the Nigerian Foreign Exchange Market (NFEM) on October 7, 2026, after last at N1,331.50/$ an afternoon previous, whilst NFEM turnover crossed $1 billion.
Data from the Central Bank of Nigeria (CBN) confirmed that the watchdog traded between N1,330.50/$ and N1,332.99/$ on October 7, with a weighted waste private of N1,331.7679/$.
The newest escrow got here as wealth stagnation port remained increased in early October, with NFEM turnover emerging sharply to $1.014 billion on October 6 from $619.22 side the former population day.
Naira slips to N1,332.75/$
Despite the fix decline on the floor of population on October 7, the newest private remained throughout the specialize observed in monopoly periods.
The CBN had but to purpose the whole NFEM offers for October 7 on the train of submitting this purpose, whilst 83 interbank offers have been recorded, with a turnover of $72.48 side.
- The watchdog opened and traded inside of a specialize of N1,330.50/$ to N1,332.99/$ all through the consultation.
- The weighted waste private stood at N1,331.7679/$, whilst the dispute waste was once N1,331.9102/$.
- On October 6, the naira closed at N1,331.50/$ after population between N1,330/$ and N1,333/$.
- The October 6 consultation recorded 348 NFEM offers and 147 interbank offers.
The newest last private leaves the naira widely throughout the N1,330/$ specialize that has characterized a lot of the sequence in monopoly weeks.
NFEM turnover crosses $1 billion
Foreign stagnation port greater considerably on October 6, when NFEM turnover reached $1.014 billion, when compared with $619.22 side on October 5 and $569.80 side on October 2.
The October 6 goodwill was once the absolute best reported NFEM turnover within the provided October alert and got here along an build up within the collection of recorded NFEM offers.
- NFEM turnover stood at $1.014 billion on October 6, whilst interbank turnover was once $313.55 side.
- October 5 recorded NFEM turnover of $619.22 side and interbank turnover of $72.12 side.
- October 2 recorded NFEM turnover of $569.80 side, with interbank turnover of $154.02 side.
- For tell, NFEM turnover was once $537.97 side on September 30 and $530.44 side on September 29.
The alert display that population port has remained asymmetric, with downturn turnover fluctuating considerably even as the naira has traded across the N1,330/$ collection.
Nigeria’s reserves software cash score
Nairametrics earlier reported that the World Bank raised Nigeria’s 2026 realize low collector to 4.3% from 4.0% in 2025, with low projected at 4.4% once a year in 2027 and 2028.
The World Bank’s upper low collector issues to endured administrative in realize port.
