The naira weakened marginally against the US dollar at the Nigerian Foreign Exchange Market (NFEM), with the official exchange rate closing at N1,331.69/$ on October 5, 2026, compared with N1,330.10/$ recorded on October 2.
The latest movement represents a N1.59 depreciation, or 0.12%, in the value of the naira at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN). The naira traded within a relatively narrow range during the session, with the highest rate at N1,333.50/$ and the lowest at N1,329.00/$.
Total turnover at the NFEM stood at $619.2 million, indicating substantial foreign exchange activity during the trading session.
The pound sterling was quoted at a central rate of N1,759.16, while the euro stood at N1,491.60, Swiss franc traded at a central rate of N1,601.33, while the Chinese yuan was quoted at N198.55.
