The naira closed the week unchanged in the foreign exchange market on Friday, October 2, 2026. The currency remained stable across all FX segments despite fluctuations during the week.
The Central Bank of Nigeria reported that foreign exchange reserves continued to increase, reaching a new high of $45.2 billion by the end of the week. This marks a steady upward trend over the past three months. The reserves were bolstered by increased inflows from oil exports and foreign direct investment.
The stability of the naira comes despite ongoing pressures from inflation and currency devaluation. Analysts noted that the central bank’s intervention in the market helped maintain equilibrium. However, the long-term outlook remains uncertain as global economic conditions continue to shift.
