The naira remained stable against major foreign currencies in Nigeria’s parallel market on Thursday, October 22, 2026, while the official exchange rate recorded a slight appreciation.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira strengthened to N1,334.72 per dollar on Wednesday, October 21, from N1,334.99 on Tuesday, according to Central Bank of Nigeria (CBN) data.
The N0.27 gain represents a 0.02% appreciation, reflecting a marginal improvement in the naira’s performance at the official foreign exchange market. In the parallel market, Bureau de Change (BDC) operators quoted the dollar at N1,360 on Thursday, unchanged from the previous day.
The difference between the official and parallel-market rates stood at N25.28 per dollar, based on the latest available official closing rate and Thursday’s BDC quotation.
Other major currencies also recorded limited movement. The pound sterling remained at N1,820, while the Canadian dollar held at N967. The euro declined slightly to N1,524 from N1,525, representing a N1 drop or 0.07%.
Nigeria’s Foreign Reserves Rise to $55.13 Billion
CBN data showed that foreign reserves rose to $55.130 billion as of October 20, up from $55.119 billion on October 19. The increase of $11 million represents a daily gain of approximately 0.02%.
While the official market recorded a marginal gain, the unchanged parallel-market dollar rate suggests that the exchange rate remained broadly steady during the session.
