The naira weakened slightly against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,332.99/$ on 12 October 2026, compared with N1,332.49/$ recorded on 9 October.
The latest movement represents a N0.50 depreciation, or 0.04%, 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 dollar edged higher against the naira, rising to N1,364.00/$ on 13 October from N1,363.00/$ on 12 October, according to Bureau de Change operators. The N1.00 increase represents a 0.07% depreciation of the naira. The gap between the parallel-market rate and the latest NAFEM rate stood at about N31/$.
Pound, Euro and Canadian Dollar Rates
The British pound strengthened marginally against the naira in the parallel market, rising to N1,805.00/£1 from N1,804.00/£1. The N1.00 increase represents a 0.06% depreciation of the naira against sterling.
The euro remained unchanged at N1,524.00/€1 while the Canadian dollar also held steady at N956.00/C$1.
Nigeria’s external reserves rose slightly to $55.076 billion as of 9 October 2026, up from $55.067 billion on 8 October, a gain of 0.02%, according to CBN figures.
