The naira maintained relative stability against the US dollar on Thursday, October 15, 2026, recording only slight movements in both the official foreign exchange market and the parallel market.
Financial analysts attributed the currency’s performance to changing trading volumes and investor caution ahead of the National Bureau of Statistics’ release of the September Consumer Price Index report.
At the official Nigerian Foreign Exchange Market (NFEM), the naira traded within a narrow range of ₦1,330 to ₦1,333 per dollar. Intraday tracking data showed minimal fluctuations, with the exchange rate reaching approximately ₦1,330.13 around midday.
The currency’s position represented a slight improvement from earlier in the week, when it briefly weakened to ₦1,335.50 per dollar.
Higher foreign exchange turnover and stronger external reserves, which recently reached an 18-month high, were also cited as factors supporting the Central Bank of Nigeria’s efforts to limit volatility in the official market.
In the parallel market, the difference between buying and selling rates remained relatively controlled. Street dealers and Bureau de Change operators in major trading centres reportedly bought dollars at rates ranging from ₦1,355 to ₦1,365, while selling rates stood between ₦1,375 and ₦1,390, depending on the location and transaction size.
The gap between the official and parallel market rates remained relatively narrow, which analysts said could indicate balanced liquidity conditions and reduced speculative pressure in the domestic foreign exchange market.