The naira weakened against the US dollar at Nigeria’s official foreign-exchange window on Wednesday, ending a two-day run of gains.
Quick facts
- Official closing rate on Wednesday: N1,350.41 per dollar
- Previous day’s official rate: N1,343.32 per dollar
- Daily decline: N7.09
- Parallel-market rate: N1,405 per dollar
- Foreign reserves as of August 17, 2026: $52.32 billion
Central Bank of Nigeria figures showed the currency’s first official-market drop of the week. It settled at N1,350.41 to the dollar, compared with N1,343.32 on Tuesday.
The move represented a day-on-day loss of N7.09 for the naira.
Trading outside the official market showed no change. The currency held at N1,405 per dollar on the parallel market, matching Tuesday’s level.
Nigeria’s foreign-exchange position included reserves of $52.32 billion on August 17, 2026.
The latest decline followed back-to-back official-market advances on Monday and Tuesday.
