The naira closed at N1,333.50 per dollar on Monday, October 19, 2026, a marginal gain of N0.70 from N1,334.20 recorded on Friday, October 16, according to Central Bank of Nigeria data. The currency traded within a narrow band of N1,332.50 and N1,334.50 during the session.
The weighted average exchange rate stood at N1,333.72, while the simple average was N1,333.76. Interbank activity comprised 59 deals with turnover of about N40.60 million, although Monday’s NFEM turnover data were not available at the time of the report.
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The relative stability came despite a 22.23% fall in weekly dollar turnover to $2.62 billion in the week ended October 16, driven by lower spot trading and an 81% plunge in forward transactions.
Foreign exchange demand remains a key pressure point: FMDA data put Q2 2026 demand at $18.34 billion, a 15-year high. However, portfolio investment rose 45% to $6.51 billion in the same quarter, while external reserves stood at $54.61 billion as of September 14, above the CBN’s projected year-end level of about $51.04 billion.
