Naira Closes at ₦1,332.90/$ as FX Turnover Declines

The naira weakened slightly against the US dollar, closing at ₦1,332.90/$ on October 6, compared with ₦1,332/$ on October 2. It traded between ₦1,329/$ and ₦1,333.50/$ during the session, showing that the exchange rate remains relatively stable around the ₦1,330/$ level. Foreign exchange activity has been uneven in recent sessions. Interbank turnover on October 5 was about $72.12 million from 103 reported deals, while the previous session recorded higher volumes. For the week ended October 2, total turnover across Nigeria’s FX spot and derivatives markets fell by 35.41% to $1.70 billion, down from $2.63 billion in the preceding week. The decline was largely linked to weaker spot-market activity.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.