Naira reverses 3-month gains, closes October at N1,346/$
AI Executive Briefing
Verified Synthesis~44s readThe naira has reversed about 42% of its gains recorded between July and September 2026, as the exchange rate weakened from N1,329.50/$ at the end of September to N1,346/$ on October 30. The exchange rate stood at N1,332/$ on October 2 before weakening to N1,346/$ at the end of the month, reflecting a depreciation of about 1.05% during October.
Context & Background
- ✦The exchange rate closed at N1,332.99/$ on October 12 and N1,335.50/$ on October 13.
Key Figures & Named Entities
2026:The naira has reversed about 42% of its gains recorded between July and September 2026, as the exchange rate weakened from N1,329.50/$ at the end of September to N1,346/$ on October 30.$.:The latest figures show that the currency’s October depreciation has partly eroded the appreciation recorded during the previous three months, although the naira remains stronger than its July closing level of N1,369/$.1.05%:The exchange rate stood at N1,332/$ on October 2 before weakening to N1,346/$ at the end of the month, reflecting a depreciation of about 1.05% during October.
Outlook & Next Steps
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Key Takeaways
Verified Extract- The naira has reversed about 42% of its gains recorded between July and September 2026, as the exchange rate weakened from N1,329.50/$ at the end of September to N1,346/$ on October 30.
- The exchange rate stood at N1,332/$ on October 2 before weakening to N1,346/$ at the end of the month, reflecting a depreciation of about 1.05% during October.
- The exchange rate closed at N1,332.99/$ on October 12 and N1,335.50/$ on October 13.
Key Facts:2026: The naira has reversed about 42% of its gains recorded between July and September 2026, as the exchange rate weakened from N1,329.50/$ at the end of September to N1,346/$ on October 30.$.: The latest figures show that the currency’s October depreciation has partly eroded the appreciation recorded during the previous three months, although the naira remains stronger than its July closing level of N1,369/$.1.05%: The exchange rate stood at N1,332/$ on October 2 before weakening to N1,346/$ at the end of the month, reflecting a depreciation of about 1.05% during October.79.85%: Geregu Power’s 9M pre-tax profit falls 79.85%, despite beating Q3 forecastWema Bank’s 9M pre-tax profit jumps 76.62% to N258.64 billion on strong interest incomeBerger Paints’ 9M pre-tax profit rises 14.8% to N1.68 billion, declares dividendNaira gives back recent gains Data from the NFEM show that the naira strengthened through much of the July-to-September period, closing at N1,329.50/$ on September 30, compared with N1,369/$ on July 1.
Editorial Excerpt
The naira has reversed about 42% of its gains recorded between July and September 2026, as the exchange rate weakened from N1,329.50/$ at the end of September to N1,346/$ on October 30.
Frequently Asked Questions About This Story
What is the latest development regarding Naira & Foreign Exchange Policy?
The naira has reversed about 42% of its gains recorded between July and September 2026, as the exchange rate weakened from N1,329.50/$ at the end of September to N1,346/$ on October 30.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Naira & Foreign Exchange Policy.
What timeline or key figures were confirmed?
The naira has reversed about 42% of its gains recorded between July and September 2026, as the exchange rate weakened from N1,329.50/$ at the end of September to N1,346/$ on October 30.
