The Nigerian naira weakened against the US dollar at the official foreign-exchange market on Wednesday, August 5, 2026, ending a two-session advance. The currency closed at N1,363.85 to the dollar, compared with N1,362.55 on Tuesday, representing a daily loss of N1.30.
The move at the official market contrasted with trading in the parallel market, where the naira strengthened by N1. The exchange rate there improved to N1,424 per dollar from N1,425 a day earlier.
The latest currency movements came as Nigeria’s foreign-exchange reserves held steady at $51.95 billion as of August 4, 2026. Reserves are a key source of dollar liquidity for the market and can influence expectations about the naira’s short-term direction.
The naira had gained at the official market on both Monday and Tuesday, while its parallel-market rate was unchanged on each of those days. Wednesday’s decline therefore marked its first official-market depreciation after that two-day positive run.
