The naira closed at N1,332.90 per dollar on October 5, 2026, as foreign exchange activity remained mixed at the start of the new trading month.

Data from the Nigerian Foreign Exchange Market showed that the currency weakened slightly from the N1,332 recorded on October 2.

The latest rate came after the naira traded within a relatively narrow range in the first two trading sessions of October. This followed several weeks of fluctuations throughout September, with the currency hovering around the N1,330 level.

During Monday’s session, the naira moved between N1,329 and N1,333.50, with a weighted average rate of about N1,331.69. The simple average stood at roughly N1,331.30. The September 30 closing rate of N1,329.50 indicated that the currency had remained relatively stable entering the new month.

Trading activity at the official market was softer, with turnover falling significantly compared with the previous session. Despite the slight weakening, the overall movement suggested continued stability around the N1,330 mark.

Analysts noted that the naira has maintained a relatively tight trading band in recent sessions. The modest daily changes reflect mixed demand and supply conditions in the foreign exchange market as the new trading month gets under way.

Photo credit: Punch Newspaper