The Nigerian naira maintained relative stability against the United States dollar on Thursday, October 15, 2026, with only marginal movements recorded across the official foreign exchange window and the parallel market.
Financial analysts attributed the currency’s performance to changing trading volumes and investor caution ahead of the release of the September Consumer Price Index report by the National Bureau of Statistics.
At the Nigerian Foreign Exchange Market (NFEM), the naira traded at approximately N1,330 to N1,333 per dollar. Intraday data showed the exchange rate reaching about N1,330.13 around midday, representing a firmer position compared with an earlier dip to N1,335.50 during the week.
Higher foreign exchange turnover and stronger external reserves, which reportedly recently reached an 18-month high, were identified as factors supporting the Central Bank of Nigeria’s efforts to limit volatility in the official market.
In the parallel market, Bureau De Change operators and street currency dealers in major trading centres quoted buying rates between N1,355 and N1,365 per dollar.
Selling rates ranged from N1,375 to N1,390, depending on the location and size of the transaction.
The difference between the official and parallel-market rates remained relatively narrow, a development that analysts said could indicate improved liquidity conditions and reduced speculative pressure in the foreign exchange market.
However, exchange rates may vary between dealers and locations, while market conditions can change throughout the trading day.
Source: Vanguard
