Naira Weakens Marginally at Official Market Amid Rising Reserves

The naira weakened marginally against the US dollar at Nigeria's official foreign exchange market on September 16, 2026. The local currency closed at N1,329.86 per dollar, a drop of 56 kobo or 0.24% compared to the previous session.

Interbank FX turnover fell sharply by 65.9% to $89.355 million during the session. Nigeria's external reserves climbed to about $54.61 billion, the highest level in roughly 18 years.

The naira also lost ground against other major currencies, falling N3.06 against the Pound Sterling to close at N1,789.19 per pound and dropping N4.90 against the Euro to close at N1,534.26 per euro.