The Nigerian naira edged lower against the US dollar at the official foreign exchange window on Thursday, a modest move that contrasted with a steady rate in the parallel market even as the country’s foreign reserves climbed.
Official market: small daily slide
Figures from the Central Bank of Nigeria showed that the naira weakened to N1,370.89 per dollar on Thursday, compared with N1,370.56 on Wednesday.
- That represents a day-to-day depreciation of N0.33 against the dollar in the official market.
Parallel market: rate unchanged
In the black market, the currency held steady at N1,395 per dollar, matching the rate recorded since Monday.
- The parallel-market exchange rate remained flat at N1,395.
Reserves rise, but FX performance stays mixed
The uneven movement across Nigeria’s foreign exchange venues came even after an improvement in external buffers. Foreign reserves increased to $48.51 billion as of May 13, 2026.
Despite Thursday’s slight softening on the official screen, the naira had strengthened against the dollar in that same official market on Wednesday.
