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Nigerian currency continues depreciation - DAILY POST
Dollar to Naira exchange rate today, May 12, 2026: Nigerian currency continues depreciation
The Naira extended its depreciation against the dollar at the official foreign exchange market on Tuesday.
Central Bank of Nigeria data showed that the Naira weakened further to N1,375.62 per dollar on Tuesday, down from N1,373.16 traded on Monday.
This means that, on a day-to-day basis, the Naira dipped by N2.46.
Meanwhile, at the black market, the Naira remained flat at N1,395 per dollar, the same rate exchanged on Monday.
The development comes despite the country’s foreign reserves surging to $48.45 billion as of May 11, 2026, according to apex bank data.
DAILY POST recalls that the Naira fell by N11.77 per dollar on Monday.
