The naira kept sliding against the US dollar on Tuesday, extending a depreciation trend at Nigeria’s main official foreign-exchange window even as recent data pointed to a rise in the country’s foreign reserves.
Naira exchange rates on May 12, 2026
- At the official foreign exchange market, the Central Bank of Nigeria data showed the naira weakened to N1,375.62 per dollar on Tuesday.
- That compares with N1,373.16 per dollar recorded on Monday, reflecting a day-over-day decline of N2.46 for the naira.
- In the parallel (“black”) market, the naira was unchanged at N1,395 per dollar, the same level as on Monday.
The renewed drift at the official window comes despite foreign reserves climbing to $48.45 billion as of May 11, 2026, based on data released by the central bank.
Earlier, the naira had already fallen on Monday, dropping by N11.77 per dollar, underscoring the pressure the currency has been facing in recent sessions.
