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Naira extends depreciation against USD - DAILY POST
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The naira extended its depreciation against the dollar at the official foreign exchange market on Thursday.
Central Bank of Nigeria data showed that the naira weakened further to N1,332.10 per dollar on Thursday, down from N1,331.77 on Wednesday.
This means that, on a day-to-day basis, the Nigerian currency, the naira, declined by N0.33 against the dollar.
Meanwhile, at the black market, the naira remained flat at N1,385 per dollar on Thursday, the same exchange rate traded on Wednesday.
The mixed performance of the Nigerian currency across foreign exchange markets comes despite the continued surge in the country’s external reserves, which climbed to $55.05 billion as of October 7, 2026, according to apex bank data.
Recall that on Wednesday, the naira depreciated across both the official and black foreign exchange markets.
