The Nigerian naira slid slightly versus the US dollar at the official foreign-exchange market on Tuesday, according to central bank figures, while the parallel-market rate held steady. The move underscores the tight conditions facing Nigeria’s FX market as traders weigh day-to-day currency demand against the country’s reserve position.
Naira FX rates and reserves update
- At Nigeria’s official foreign exchange window, the naira weakened to ₦1,366.56 per dollar on Tuesday, down from ₦1,365.25 exchanged on Monday.
- That official-market change equated to a ₦1.3 decline on a day-to-day basis against the dollar.
- On the black market, the naira rate was reported unchanged at ₦1,395 per dollar on Tuesday, matching the level seen on the previous day.
- In terms of external buffers, central bank data showed Nigeria’s external reserves were at $48.36 billion as of April 30, 2026.
- Looking back at the start of the week, the naira had opened Monday with a modest improvement of more than ₦9 versus the dollar.
