The Nigerian naira has maintained a stable trading range, closing at N1,332.99 per dollar on October 12, 2026. Data from the Central Bank of Nigeria (CBN) indicates the currency has fluctuated narrowly between N1,331 and N1,334 during early October. Despite sharp volatility in daily foreign exchange turnover, the market remains supported by a strengthening external reserve position, which reached $55.07 billion as of October 8. Governor Olayemi Cardoso continues to emphasize that improved reserve levels and market stability are key factors in bolstering investor confidence.