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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NigeriaNigeria Foreign Exchange Reserves climbed to 55.26B in October 2026
FMPMonthlyReleased October 2026
Nigeria Foreign Exchange Reserves climbed to 55.26B in October 2026, up 0.35B from September's 54.91B reading. The reading matched the 56B consensus. The print is running well above the 12-month average of 51.6B. Over the past 3 months, Foreign Exchange Reserves averaged 54.6B, vs 51.33B in the prior 3-month window. Foreign Exchange Reserves is now the highest in 24 months.
Latest Release
55.26
Actual
56
Consensus
54.91
Previous
Median Absolute Error
±0.67 billion
across last 12 releases
Last Call
Oct 2026
Predicted: 56.56
Actual: 55.26
Error: +1.3
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
THE RELEASE
Foreign Exchange Reserves (Nigeria) was reported at 55.26 billion in October 2026. This missed the market consensus of 56.00 billion by 0.74 billion. The reading rose from the previous value of 54.91 billion. Trailing 12-month context per ETL data through October 2026. Over the past 12 months, the indicator has averaged 49.99 billion, ranging from 44.56 billion to 55.26 billion across 10 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 54.49 billion, up from the prior three at 50.27 billion. Volatility over the past year (σ 3.64 billion) is higher than the prior year (σ 1.59 billion). In October readings over the past 3 years, Foreign Exchange Reserves has averaged 46.05 billion.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with GBP/USD (Bearish GBP). Over the last 12 releases, the Sigmacast model's median absolute error is 0.67 billion.
WHAT TO WATCH NEXT
The next release is scheduled for November 30, 2026.
Auto-generated from current model state · Refreshes on each release · Last update October 2026.
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Foreign Exchange Reserves - NG
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About Foreign Exchange Reserves — Nigeria
DEFINITION
Foreign Exchange Reserves refer to the amount of foreign currency held by a country's central bank. These reserves are used to maintain stability in the country's currency and to fulfill international payment obligations. They serve as a measure of a country's economic strength and ability to withstand external shocks. Foreign Exchange Reserves are an important financial indicator for investors and policymakers, providing insight into a country's monetary policy and its ability to manage its currency.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2026): actual 55.26 B, consensus 56 B. Prior reading (Oct 2026): 55.26 B. Before that (Sep 2026): 54.91 B.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with GBP/USD (Bearish GBP, r=-0.64) — a useful reference for forex-focused traders.
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Economic Calendar - NG Events
| Monday, November 2, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:45 | NG | Stanbic IBTC Bank Nigeria PMI | 56.4 | 57.2 | 57.00 | Low | |