Dollar-to-Naira Exchange Rate on October 16, 2026: Naira Weakens Against the Dollar to End the Week on a Negative Note

Author: dailypost.ngPublished on: October 16, 2026Country: Nigeria

Business & Economy

Dollar-to-Naira Exchange Rate on October 16, 2026: Naira Weakens Against the Dollar to End the Week on a Negative Note

The naira weakened on the official foreign exchange market on Friday, moving from ₦1,331.61 to ₦1,332.26 per dollar, a daily depreciation of ₦0.65. It nevertheless gained ₦1.07 against the dollar over the week at the official rate. On the parallel market, the naira strengthened to ₦1,370 per dollar after holding at ₦1,375 since Monday. Nigeria’s external reserves stood at $55.09 billion, according to Central Bank of Nigeria data.

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