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Naira Records Highest Depreciation Against US Dollar

The Naira has recorded its highest daily depreciation against the United States dollar at the official foreign exchange market on Wednesday.
This is according to data released by the Central Bank of Nigeria.
The data showed that the Naira continued its bearish trend on Wednesday, dropping to N1,443.08 against the dollar, down from N1,438.71 traded on Tuesday.
This means that the naira recorded a N4.3 drop against the dollar on a day-to-day basis.
At the black market, the Naira remained stable at 1465 per dollar on Wednesday, the same exchange rate as on Tuesday.
Recall that Wednesday’s downturn is the highest depreciation against the dollar when compared to the decline on Monday and Tuesday, which stood at N2.1.
The development comes despite the continued rise in the country’s foreign reserves, which stood at $43.37 billion as of November 10, 2025.
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Naira Depreciates Against US Dollar Across Official, Black Markets

The Nigerian currency, the naira has depreciated against the United States dollar at the official foreign and parallel exchange markets.
This is according to data released by the Central Bank of Nigeria.
The Naira dropped on Monday to N1,437.29 against the dollar, down from N1,436.58 traded at the close of work on Friday.
This showed that the Naira weakened on Monday by N0.71 against the dollar when compared to N1,436.58 exchanged last week.
Similarly, the Naira also declined by N15 to N1,465 per dollar on Monday down from N1;450 lon Friday.
The development comes despite the continued rise in Nigeria’s external reserves, which stood at $43.35 billion as of November 7th, up from $43.32 recorded the previous day, according to CBN data.
Recall that the Naira closed with mixed sentiments last week after US President Donald Trump’s designation of Nigeria as a Country of Particular Concern.
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Dollar Exchanges For N1,515 at Black Market

The Naira has exchanged between N1,495 and N1,515 at the parallel (black) market on Friday, October 24.
This is as the Naira held firm at the official Nigerian Foreign Exchange Market (NFEM) fixing while continuing to trade weaker on the parallel (black) market on Friday, October 24.
At the NFEM, which operates as the Investors & Exporters window, the US dollar was quoted near ₦1,460/$1.
This rate reflected a modest intraday dip from earlier levels this week, indicating some stability in the official channel.
Meanwhile, the parallel market also known as black market, where retail cash dollars change hands—remained notably higher. Dealers in Lagos and other commercial centers quoted the greenback between ₦1,495 and ₦1,515/$1, with reports indicating some transactions were occurring at the higher limit of ₦1,515/$1. This places the street average roughly around ₦1,500/$1.
Importers and corporate bodies operating through official windows will generally see exchange rates close to the NFEM fixing, approximately ₦1,460. However, individuals buying or selling cash on the streets face the higher parallel rates, which increases the cost of remittances, travel, and dollar-priced goods for retail consumers.
The persistent spread between the NFEM fixing and the parallel market continues to reflect differences in liquidity, access to official dollar supply, and general market sentiment. Policy moves by the Central Bank of Nigeria (CBN), including interventions and recent monetary policy shifts, remain key influences on the official rate and market confidence. Analysts suggest continued central bank support for official windows has helped stabilize the NFEM fixing even as high cash demand keeps parallel rates elevated.
Traders and analysts will closely watch weekly FX turnover, any fresh CBN dollar interventions, and global dollar movements for cues. If official dollar supply through FMDQ/NFEM increases, the official fixing could stay stable or strengthen. Conversely, persistent high cash demand will likely keep the parallel market premium in place.
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Naira Rises To N1,495/$ In Parallel Market

The Naira strengthened in the parallel market yesterday, appreciating to ₦1,495 per dollar from ₦1,500 per dollar recorded on Monday.

But the Naira depreciated to N1,464.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,464.5 per dollar from N1,464 per dollar on Monday, indicating 50 kobo depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N35.5 per dollar from N36 per dollar on Monday.

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Naira Depreciates Against US Dollar Across Official, Black Markets

The Naira has depreciated against the United States Dollar on Monday.

The currency depreciated against the dollar across official and parallel foreign exchange markets according to data from the Central Bank of Nigeria.
The data showed that the Naira dropped to N1,470.26 on Monday, down from N1,465.68 traded on Friday.
This means that the Naira weakened by N4.58 per dollar on Monday compared to the N1,465.68 recorded on Friday last week.
Similarly, at the black market, the Naira dropped to N1,505 per dollar on Monday, down from N1,495 traded at the close of business on Friday last week.
Bureau de Change operators attributed the drop to rising demand for foreign exchange.
Recall that the Naira had also eased against the Dollar on Friday.
This comes despite the continued rise in Nigeria’s external reserves to $42.44 billion as of October 3, 2025.
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Naira Hits ₦1,455, Records Strongest 2025 Performance Against Dollar

The Naira appreciated on the official foreign exchange market, closing at ₦1,455.23 per dollar — a 1.36% gain from the ₦1,475.34 recorded on September 30.

This is the first time since May 2024 that the exchange rate has dipped into the ₦1,400 range, highlighting the currency’s strongest performance so far this year.

The Central Bank of Nigeria’s (CBN) adoption of the electronic foreign exchange matching system (EFEMS) in December 2024 has played a key role in this improvement.

When EFEMS was launched, the naira was trading at ₦1,660 per dollar on the official market, making the current rate a significant gain.

In the parallel market, the naira also appreciated, closing at ₦1,480 per dollar compared to ₦1,485 at the end of September. This marks the best parallel market rate recorded this year.

President Bola Tinubu, in his Independence Day address on October 1, highlighted the currency’s regained stability after a turbulent period in 2023 and 2024.

He noted, “The naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024. The gap between the official rate and the unofficial market has reduced substantially, following FX reforms and fresh capital and remittance inflows.”

Adding to the optimism, Abdul Samad Rabiu, chairman of BUA Group, forecasted on September 25 that the naira could strengthen further to between ₦1,300 and ₦1,400 per dollar by the end of the year.

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Naira Down To N1,540/$ In Parallel Market

Yesterday, the Naira fell to N1,540 per dollar in the parallel market, down from N1,537 per dollar on Tuesday.

But the Naira appreciated to N1,522 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,522 per dollar from N1,525.45 per dollar on Tuesday, indicating N3.45 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate widened to N18 per dollar from N11.55 per dollar on Tuesday.

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Naira Slides To N1,550/$ In Parallel Market

The Naira weakened further on Tuesday, August 26, closing at N1,550 per dollar in the parallel market, compared to N1,540 per dollar on Monday.

In the Nigerian Foreign Exchange Market (NFEM), the local currency also weakened slightly to N1,537 per dollar, compared to N1,536.99 per dollar the previous day, according to data from the Central Bank of Nigeria (CBN).

This depreciation widened the gap between the official and parallel market rates to N13 per dollar, a sharp increase from N3.01 recorded on Monday.

The currency’s drop reflects sustained pressure from high demand for foreign exchange amid limited dollar supply, a challenge that has persisted despite ongoing CBN interventions and recent policy reforms aimed at stabilizing the market.

Analysts warn that without a significant boost in forex inflows and improved investor confidence, the Naira could face further volatility in the coming weeks.

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Naira loses 19 kobo, ends week at ₦1,533.74 per dollar

The Nigerian Naira closed the trading week slightly weaker against the U.S. dollar, losing 19 kobo at the official foreign exchange market on Friday, August 1, 2025.

According to figures published on the Central Bank of Nigeria’s (CBN) official website, the Naira ended Friday at ₦1,533.74 per dollar, compared to ₦1,533.55 recorded on Thursday.

The local currency had shown minor fluctuations throughout the week. On Wednesday, it traded at ₦1,534.52, reflecting a marginal depreciation from Tuesday’s rate of ₦1,533.18.

The movement signals continued pressure on the local currency amid ongoing efforts by monetary authorities to stabilise the forex market. While the depreciation is slight, it reflects broader challenges in Nigeria’s foreign exchange dynamics, including demand-supply imbalances and capital inflow constraints.

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