Nigeria’s naira opened the week weaker at the official foreign-exchange window, while the currency held steady in the parallel market and the country’s external reserves remained above $55 billion.
Official market records modest naira decline
Central Bank of Nigeria data showed the naira closing at N1,332.10 to the dollar on Monday, compared with N1,331.19 on Friday.
- The movement represented a N0.91 loss for the naira against the US dollar in the official FX market.
- The decline reversed the currency’s gain recorded on Friday, when it had strengthened to finish the previous trading week.
Parallel-market rate unchanged
Trading in the parallel market was more stable, with the naira quoted at N1,373 per dollar on Monday. That was unchanged from the rate seen at the close of last week.
Foreign reserves remain above $55 billion
Nigeria’s foreign-exchange reserves stood at $55.08 billion as of October 9, 2026. The reserve position provides a key indicator of the country’s capacity to support currency-market operations and meet external payment obligations.
