Naira Reports Disagree: Did It Fall or Strengthen Monday?
BusinessDay NG and Nairametrics both cover Monday’s naira/dollar rate but describe opposite directional moves and cite different Friday baselines.
BusinessDay NG and Nairametrics both cover Monday’s naira/dollar rate but describe opposite directional moves and cite different Friday baselines.
What all sources agree on
- Both reports cover the Monday, October 26, 2026 trading session compared with the prior Friday, October 23, 2026.
- Both cite a weighted average/quoted rate of N1,367.61 somewhere in their figures.
- Both report a session high of N1,380 per dollar on Monday.
- Both report interbank trading of 201 deals with turnover of approximately $614.25 million (though BusinessDay states this fell from $1.01 billion on Friday, a figure not disputed by Nairametrics).
Where the reports disagree
1Direction of the naira’s movement on Monday
The naira depreciated further against the dollar across foreign exchange (FX) market segments on Monday, despite record turnover and the Central Bank of Nigeria’s (CBN) $500 million intervention.
The naira strengthened against the dollar on Monday, October 26, 2026, closing at N1,365/$, compared with N1,370/$ on Friday, October 23.
What would settle it: The CBN’s official Nigerian Foreign Exchange Market (NFEM) daily rate publication for October 23 and October 26, 2026.
2Friday’s baseline exchange rate
the dollar was quoted at N1,367.61 on Monday, compared with N1,361.84 on Friday at the Nigerian Foreign Exchange Market (NFEM).
closing at N1,365/$, compared with N1,370/$ on Friday, October 23.
What would settle it: The CBN’s official Nigerian Foreign Exchange Market (NFEM) daily rate publication for October 23, 2026.
3Monday’s closing/quoted exchange rate
the dollar was quoted at N1,367.61 on Monday
The naira closed at N1,365 per dollar, matching its October 22 closing rate.
What would settle it: The CBN’s official Nigerian Foreign Exchange Market (NFEM) daily rate publication for October 26, 2026.
What to make of it
Treat the specific Friday-to-Monday rate figures and the direction of the naira’s move as unresolved until the CBN’s own NFEM daily rate data for October 23 and 26, 2026 is checked; do not rely on either outlet’s headline figure alone.
Treat the specific Friday-to-Monday rate figures and the direction of the naira’s move as unresolved until the CBN’s own NFEM daily rate data for October 23 and 26, 2026 is checked; do not rely on either outlet’s headline figure alone.
Original source: AltcoinGordon
Syndicated coverage. Originally reported by altcoingordon.com.
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