The Nigerian naira closed at N1,335.50 per dollar on October 13, 2026, marking its weakest level since August 31. This depreciation occurred despite a significant boost in Nigeria’s foreign exchange reserves, which hit a 17-year high of $58.81 billion as of October 12. Meanwhile, both the IMF and the World Bank have upwardly revised Nigeria’s economic growth forecasts for 2026, signaling continued expectations for stronger economic activity despite ongoing currency volatility.