The naira weakened against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,332.00/$ on 2 October 2026, compared with N1,329.50/$ recorded on 30 September.
The latest movement represents a N2.50 depreciation, or 0.19%, 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 also strengthened against the naira, rising to N1,353.00/$ on 5 October from N1,350.00/$ on 2 October, according to Bureau de Change operators. The N3.00 increase represents a 0.22% depreciation of the naira. The gap between the parallel-market rate and the latest NAFEM rate stood at about N21/$.
Pound, Euro and Canadian Dollar Rates
The British pound weakened against the naira in the parallel market, falling to N1,790.00/£1 from N1,800.00/£1. The N10.00 movement represents a 0.56% appreciation of the naira against sterling.
The euro also declined to N1,517.00/€1 from N1,530.00/€1, a N13.00 (0.86%) gain for the naira while the Canadian dollar eased to N950.00/C$1 from N954.00/C$1, representing a N4.00, or 0.42%, appreciation of the naira against the Canadian currency.
Nigeria’s external reserves also edged higher to $54.926 billion as of 30 September 2026, up from $54.920 billion on 29 September, a rise of 0.01%, according to CBN figures.
