The Nigerian naira weakened against the US dollar in the official foreign-exchange market on Tuesday, giving back the improvement recorded a day earlier, even as the country’s foreign reserves climbed to $52.14 billion by August 10, 2026.
Official-market exchange rate moves lower
- Central Bank of Nigeria figures put the naira at N1,364.89 per dollar on Tuesday.
- That compares with Monday’s rate of N1,360.15, representing a daily decline of N4.75 for each dollar.
- The reversal followed a gain by the Nigerian currency in the official market on Monday.
Parallel-market performance
Trading in the parallel market produced a different result. The naira strengthened marginally by N1 on Tuesday, changing hands at N1,429 per dollar compared with N1,430 on Monday.
On Monday, the currency had risen in the official foreign-exchange market while showing no change in value on the parallel market.
Foreign reserves continue to increase
The latest currency movements came as Nigeria’s external reserves advanced further, reaching $52.14 billion as of August 10, 2026.
