The Nigerian naira weakened marginally against the US dollar in official trading on Thursday, while parallel-market losses were more pronounced and foreign-exchange reserves edged lower.
Key takeaways
- The official exchange rate moved to N1,366.73 per dollar from N1,366.71 a day earlier.
- The currency lost N3 on the parallel market, where it traded at N1,418 per dollar.
- Nigeria’s external reserves stood at $51.92 billion on July 29, 2026.
- The naira has declined against the dollar in official trading for three consecutive days.
Naira and reserves under pressure
Central bank figures showed that the naira’s official value slipped by N0.02 on Thursday, extending its gradual retreat in the formal foreign-exchange market. The currency had been quoted at N1,366.71 per dollar on Wednesday before moving to N1,366.73.
Trading outside the official market recorded a sharper deterioration. The naira changed hands at N1,418 to the dollar on Thursday, compared with N1,415 the previous day, representing a N3 decline.
The latest exchange-rate moves came as Nigeria’s foreign reserves fell to $51.92 billion on July 29, 2026, from $51.94 billion one day earlier. The official-market decline also marked the third straight daily weakening of the naira against the dollar.
