Dollar-to-naira exchange rate on October 23, 2026: Naira falls sharply against the dollar

The naira ended the week weaker against the dollar, falling on the official market from 1,344.40 naira on Thursday to 1,361.84 on Friday, a daily depreciation of 17.44 naira. On the parallel market, it weakened from 1,377 to 1,385 naira per dollar. The decline came despite Nigeria’s foreign reserves rising to $55.16 billion on Thursday, according to the Central Bank of Nigeria. Across both markets, the naira depreciated more often than it appreciated during the week.