Naira maintain relatively stable performance across both official Nigerian Foreign Exchange Market (NFEM) and parallel black market on October 2, 2026.
For official window, trading data show US Dollar dey exchange at about ₦1,328.17, and e hover closely around Central Bank of Nigeria (CBN) reference rate of ₦1,329.16.
Dis one reflect minimal movement from previous session, and e point to continued tight control plus liquidity adjustments inside official market framework.
For parallel market, operations see greenback being purchased at roughly ₦1,375 and sold up to ₦1,390.
Street-level currency traders report steady demand for cash transactions, and dat one keep parallel market premium over official rate within familiar range as market participants balance localized liquidity needs against broader macroeconomic indicators.
Naira still strengthened against US dollar across Nigeria official and parallel foreign exchange markets on Tuesday, supported by improved dollar liquidity and sharp rise in interbank FX turnover.
Local currency also record gains against British pound and euro, while gap between official and street-market dollar rates narrow further.
Data from NFEM show say naira appreciate by 0.06% to close at N1,330.47 per dollar, compared with N1,331.33 wey dem record for previous trading session.
During Tuesday trading, dollar exchange within range of N1,327.50 to N1,331.50, reflecting relatively stable conditions for official market.
The improvement come as dollar liquidity increase significantly.
Central Bank of Nigeria (CBN) data show interbank FX turnover jump by about 226% to $80.58 million from $24.73 million wey dem record for preceding session.
Higher liquidity generally dey give businesses, banks and other authorised market participants greater access to foreign currency, and e fit reduce pressure on naira.
Naira also strengthen for parallel market, where traders quote dollar at about N1,375.
That represent appreciation of roughly 0.36% and e reduce difference between official and parallel-market rates to approximately N45 per dollar, from about N49 previously.
Di narrowing gap between both markets dey significant because wide disparity fit encourage speculation and push individuals and businesses towards unofficial FX channels.
Di latest movement mean say Nigerians wey dey buy dollars on streets still dey pay more than official market rate, but di difference don continue to shrink.
Naira gains no limit to US dollar.
An FX market update from AIICO Capital show say official exchange rate for British pound stand at N1,760.62, while euro quoted at N1,509.56.
For parallel market, naira strengthen against pound to about N1,855, while euro trade around N1,550.
Di development come amid improvement in Nigeria external reserves, providing additional support for CBN ability to manage volatility for foreign exchange market.
Nigeria gross external reserves don rise to about $54.91 billion, compared with $45.50 billion at beginning of year.
Developments for global commodities market fit also get implications for Nigeria foreign exchange position because crude oil remain major source of dollar earnings.
Oil trade around $100.19 per barrel, while US West Texas Intermediate hover near $95 per barrel.
Gold, meanwhile, rise 0.38% to about $4,190.30 an ounce, recovering some of im losses after e fall to seven-week low on Monday.
For naira, traders go dey watch whether stronger FX liquidity and rising reserves fit sustain di recent appreciation and further close di gap between official and parallel-market exchange rates.
Legit.ng earlier report say naira don extend im gains against British pound, pushing sterling below ₦1,800 mark as improved foreign exchange liquidity and stronger autonomous inflows continue to support Nigerian currency.
Pound trade around ₦1,786, a significant improvement for naira compared with periods when sterling exchange above ₦2,000.
