The naira slid versus the US dollar at Nigeria’s official foreign-exchange window on Tuesday, underscoring a split picture between formal and parallel currency markets as the country continues to draw support from its sizable external reserves.
Central Bank of Nigeria figures showed that the naira weakened on Tuesday to N1,357.18 per dollar at the official market. That compares with N1,356.27, the rate recorded on Monday, marking a day-to-day drop of N0.90 against the dollar.
Parallel market holds steady
In the black market, the naira was unchanged on Tuesday at N1,395 per dollar, the same level as the previous day. The contrast between the official decline and the parallel market stability points to mixed sentiment among traders.
Reserves backdrop and what happened at the start of the week
The mixed signals arrive as Nigeria’s external reserves stood at $50.81 billion as of June 15, 2026. They also follow a positive start to the week: the local currency strengthened against the dollar on Monday at the official foreign-exchange market.
Zibuyile began her media journey as a sales intern at Mediamark (Kagiso Media) before moving into digital content creation for ZAlebs.com. Over four years, she helped evolve the platform from a simple blog into one of South Africa’s leading independent entertainment news sites.
Following ZAlebs’ transition to Celebrity Worx in 2016, Zibuyile was promoted to Executive Editor, recognized for her sharp audience insight and ability to match editorial with branded content. Highlights of her time include a Bookmark Award nomination, judging TLC’s Next Great Presenter, reporting from the MTV EMAs, and building partnerships with radio stations like YFM, Cliff Central, and Good Hope FM.
Her editorial work also expanded to include fast-growing digital verticals—such as lifestyle tech, online entertainment, and gambling-related content—tailored to evolving reader interests and brand opportunities.
