Interbank FX turnover jumps 123% as naira strengthens to N1,329.50/$
Interbank foreign exchange turnover jumped 123% to $179.58 million on September 30, 2026, as the naira strengthened to N1,329.50/$ at the Nigerian Foreign Exchange Market (NFEM). The post Interbank FX turnover jumps 123% as naira strengthens to N1,329.50/$ appeared first on Nairametrics .
On September 30, 2026, interbank foreign exchange turnover surged 123% to $179.58 million, according to data from the Nigerian Foreign Exchange Market (NFEM). The Nigerian Currency strengthened to N1,329.50/$, a notable change from the previous trading day's N1,331/$. The Central Bank of Nigeria (CBN) reported that interbank turnover had risen from $80.58 million on September 29.
The recent surge in foreign exchange activity was attributed to a strengthening naira and higher external reserves, which have crossed $55 billion. The Monetary Policy Committee (MPC) of the CBN had also decided to reduce the benchmark interest rate, further contributing to the favorable forex market conditions.
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