Naira Falls Against Dollar, Trading at N1,361.84 at Official Market

The Nigerian naira has lost value against the US dollar, trading at N1,361.84 at the Central Bank of Nigeria’s official foreign exchange market on Friday, October 23, 2026. This represents a decline of about N17.43 from the previous day’s rate of N1,344.40.

At the parallel market, also known as the black market, the buying rate for the naira decreased by N3, while the selling rate dropped by N6 compared to the previous trading day. On the same day, the black market rates were reported at N1,372 for buying and N1,377 for selling.

The depreciation of the naira reflects ongoing challenges in the currency market, as the exchange rates fluctuate based on supply and demand. Investors and consumers are closely monitoring these changes as they impact the cost of goods and services.

As the situation develops, many are looking for signs of stabilization in the currency market. The Central Bank continues to provide updates on exchange rates and market conditions.