The naira weakened marginally against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,333.55/$ on 8 October 2026, compared with N1,332.75/$ recorded on 7 October.
The latest movement represents a N0.80 depreciation, or 0.06%, in the value of the naira at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN).
In the parallel market, the naira strengthened slightly against the dollar, with the rate falling to N1,361.00/$ on 9 October from N1,362.00/$ on 8 October, according to Bureau de Change operators. The N1.00 decline represents a 0.07% appreciation of the naira. The gap between the parallel-market rate and the latest NAFEM rate stood at about N27.45/$.
Pound, Euro and Canadian Dollar Rates
The British pound strengthened against the naira in the parallel market, rising to N1,802.00/£1 from N1,796.00/£1. The N6.00 increase represents a 0.33% depreciation of the naira against sterling.
The euro also strengthened, climbing to N1,527.00/€1 from N1,523.00/€1, a N4.00 (0.26%) depreciation of the naira.
The Canadian dollar edged higher to N956.00/C$1 from N955.00/C$1, representing a N1.00, or 0.10%, depreciation of the naira against the Canadian currency.
External Reserves
Nigeria’s external reserves rose to $55.054 billion as of 6 October 2026, up from $54.983 billion on 5 October, a gain of 0.13%, according to CBN figures.
