Nigeria’s naira lost N27.12 against the US dollar over two trading days in the official foreign-exchange market, extending pressure on the currency despite a rise in the country’s external reserves.
Quick facts
- The official exchange rate fell to N1,361.84 per dollar on Friday, from N1,334.72 on Wednesday.
- The two-day decline amounted to 2.03%.
- In the parallel market, the naira weakened by N5 to N1,375 per dollar.
- Foreign reserves stood at $55.16 billion as of October 22, 2026.
Central Bank of Nigeria figures for Thursday and Friday showed the naira closing Friday at N1,361.84 to the dollar, compared with N1,334.72 recorded on Wednesday. The movement translates into a N27.12 loss during the two-day period.
On a week-on-week comparison, the currency also declined by N27.12 in the official market during the week that has just ended.
The parallel market registered a smaller but continued weakening. Bureau de Change operators quoted the naira at N1,375 per dollar, down N5 from its previous level.
The currency’s fall in both market segments came even as Nigeria’s gross external reserves reached $55.16 billion on October 22, 2026.
