The naira ended October at 1,346.26 per US dollar on the official Nigerian Foreign Exchange Market (NFEM), 1.3% weaker than at the end of September and its first monthly fall since June, Central Bank of Nigeria (CBN) data showed. The currency had dropped to 1,367.61 per dollar on October 26 before regaining 1.6% over the last four sessions of the month.
Analysis: The naira's rebound near month-end left the dollar costing 5.3% fewer naira than a year earlier, by our calculation. Trading volumes were uneven, falling to $583mn on October 30 from $3.24bn on October 23. Gross foreign reserves increased just $295mn over the month, the smallest rise in six months. The central bank does not report its dollar sales, so the data cannot establish whether it intervened to support the currency. October consumer inflation figures, expected in mid-November, will offer the first reading covering the latest exchange-rate movement.
Source: Central Bank of Nigeria, CBN Nigerian Foreign Exchange Market (NFEM) daily rates feed (GetAllNFEM_Rates API behind the exchange-rate page), 30 October 2026 and 31 October 2025; Central Bank of Nigeria, CBN, Nigerian Foreign Exchange Market (NFEM) Rates table (JSON feed /api/GetAllNFEM_Rates behind the rates page), 30 September 2026 and 29 May 2026 and 30 June 2026; Central Bank of Nigeria, CBN NFEM daily rates (JSON feed of the Exchange Rates page), 26 October 2026 and 23 October 2026; Central Bank of Nigeria, CBN Movement in Foreign Reserves feed (GetAllReservesGRAPH API behind the reserves page), 30 October 2026; Central Bank of Nigeria, CBN, Movement in Foreign Reserves (JSON feed /api/GetAllReserves behind the reserves page), 30 April 2026 and 29 May 2026 and 30 June 2026 and 31 July 2026 and 31 August 2026 and 30 September 2026