The naira weakened on Tuesday versus the US dollar in both the official and parallel foreign-exchange markets, extending a mixed trend seen the previous day. Central Bank of Nigeria figures showed the currency slipping to 1,375.75 naira per dollar on Tuesday, compared with 1,368.27 naira per dollar on Monday. On a day-to-day basis, that equated to a depreciation of 7.48 naira against the dollar.
In the informal “black market,” the naira also moved lower, dropping to 1,415 naira per dollar on Tuesday from 1,410 traded on Monday. At the same time, Nigeria’s external buffers rose further: foreign reserves climbed to 51.58 billion US dollars as of July 6, 2026. Taken together, the data point to continued pressure on the exchange rate in unofficial trading even as reserves strengthen, and they follow Monday’s pattern in which the naira strengthened in the official market but weakened in the black market.
