English>

Market News

Naira continues to depreciate against dollar at official market - DAILY POST

JULY 10, 2025

The naira continued to depreciate against the dollar at the official foreign exchange market on Wednesday.

According to the Central Bank of Nigeria’s data, the naira weakened slightly to N 1,531 per dollar on Wednesday from N 1,529.22 exchanged on Tuesday.

This means that the naira dropped by N1.78 against the dollar on a day-to-day basis, the highest depreciation this week.

Meanwhile, at the black market, it remained unchanged at N1,550 per dollar on Wednesday, the same rate exchanged on Tuesday.

This comes as CardinalStone’s mid-year outlook predicted that Nigeria’s external reserves are expected to rise to $41 billion by year-end.

SEE HOW MUCH YOU GET IF YOU SELL

NGN
This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics