The naira slid again at Nigeria’s official foreign-exchange window on Wednesday, extending a weak streak and recording its steepest day-to-day fall versus the US dollar in roughly two weeks, while the parallel market held steady.
Key takeaways
- At the official market, the naira weakened to 1,380.08 per US dollar on Wednesday.
- This followed Tuesday’s official rate of 1,370.64 per dollar, a daily change of 9.44 naira.
- In the black market, the naira was unchanged at 1,400 per dollar.
- External reserves increased to 51.17 billion US dollars as of 23 June 2026.
Official naira depreciates further
Central Bank of Nigeria figures indicated that the naira continued to lose ground against the dollar on Wednesday, moving to 1,380.08 per US dollar. The prior trading day, Tuesday, saw the currency quoted at 1,370.64 per dollar at the official foreign-exchange market.
On a day-over-day basis, that translates to a decline of 9.44 naira in the official rate, marking the highest depreciation over a two-week span.
Parallel market steady as reserves rise
While the official rate weakened, the parallel or black market remained stable. The exchange rate in that segment was reported at 1,400 per dollar on Wednesday, matching the level quoted by bureaux de change.
The depreciation at the official window came as Nigeria’s external reserves continued to build. Reserves were reported at 51.17 billion US dollars as of 23 June 2026.
Earlier, the naira had also moved lower against the dollar at the official market on Tuesday, extending its bearish trend into the next session.
