Naira at ₦1,332.26/$ Friday, up ₦1.07 week-on-week; reserves $55.09bn
On Friday, October 16, 2026, the naira traded at ₦1,332.26 per US dollar at the official foreign exchange market, up from ₦1,331.61 on Thursday—a day‑to‑day depreciation of ₦0.65. Despite the daily slip, the naira gained ₦1.07 against the dollar on a week‑on‑week basis. In the parallel market, the naira appreciated to ₦1,370 per dollar after holding steady at ₦1,375 since Monday. The Central Bank of Nigeria reported that external reserves stood at $55.09 billion.
For importers and travelers, the official rate means a slightly higher cost for dollar purchases today, while the stronger parallel‑market rate suggests cheaper black‑market dollars. Exporters may see modest revenue boosts from the week‑on‑week gain. With reserves above $55 billion, the CBN has some buffer to intervene if volatility spikes.
Will you adjust your budget for imports or foreign travel based on today’s official rate, or take advantage of the parallel‑market dip for dollar purchases?