The naira weakened by 0.11% to shut at N1,334.99 per dollar on Tuesday, October 20, 2026, from N1,333.50/$ in the earlier session.
This is in accordance to knowledge on Central Bank of Nigeria’s (CBN) web site on Tuesday.
The forex traded between N1,331.80 and N1,335.00, with a weighted common price of N1,333.65.
At the time of reporting, the CBN had not launched Tuesday’s deal and turnover figures for the Nigerian Foreign Exchange Market (NFEM).
Interbank market data 70 offers
CBN knowledge confirmed that the interbank market recorded 70 offers, with turnover of roughly N60.72 million on Tuesday.
- The easy common change price stood at N1,333.59.
- On Monday, NFEM recorded 230 offers and turnover of about N331.31 million.
- Interbank turnover on Monday was roughly N40.60 million, in contrast with N60.72 million on Tuesday.
The figures present variations in reported exercise throughout the 2 classes, though the absence of Tuesday’s NFEM knowledge limits a full comparability of market turnover.
Foreign reserves and funding flows
Nigeria’s exterior place has been supported by greater portfolio funding and international reserves, in accordance to earlier Nairametrics reviews.
Nigeria’s portfolio funding rose by 45% to $6.51 billion in the second quarter of 2026.
Separately, the nation’s international reserves elevated by $12.76 billion year-on-year to $54.61 billion as of September 14, 2026, in accordance to a Nairametrics report.
The reserve stage was above the CBN’s projected year-end determine of roughly $51.04 billion for 2026, a projection reported by Nairametrics in December 2025.
These figures present context for Nigeria’s exterior liquidity however don’t, on their very own, set up a direct hyperlink between reserve development, portfolio funding and the naira’s day by day change price.
US dollar slips in global markets
The US dollar weakened in worldwide markets on Tuesday as decrease Treasury yields and crude oil costs decreased its attraction. According to Reuters, the dollar index fell by 0.25% to 101.71, reaching a three-week low, earlier than stabilising at 101.78 on Wednesday.
- The Australian dollar rose 0.1% to $0.7013 on Wednesday, approaching a three-week excessive, after Reserve Bank of Australia Deputy Governor Andrew Hauser mentioned the inflation outlook had worsened.
- Market consideration was additionally turning to upcoming central financial institution coverage choices. Traders didn’t anticipate interest-rate modifications from the US Federal Reserve, European Central Bank or Bank of Japan at their forthcoming conferences, whereas markets anticipated quarter-point price will increase from the Reserve Bank of New Zealand and Bank of Canada.
- The New Zealand dollar slipped 0.1% to $0.5677, whereas the Canadian dollar was regular at C$1.4064.
Also, global oil prices retreated from a five-month high on Tuesday as renewed diplomatic engagements between Iran and Pakistan raised hopes of easing tensions in the Middle East.
The dollar’s global actions present wider market context, however they don’t immediately decide the naira’s day by day efficiency towards the US forex.
