Market News

The Naira recorded depreciation against the dollar at the official foreign exchange market on Tuesday, 7th April 2026, after the Easter holidays.

The Central Bank of Nigeria’s data showed that the Naira weakened to N1,386.68 per dollar on Tuesday from N1,380.79 traded Thursday last week.

This means that upon resumption of trading on Tuesday, it dipped by N5.89 against the dollar.

Meanwhile at the black market, the Naira appreciated to N1,404 per dollar on Tuesday from between N1,410 and N1,415 traded before Easter break, according to a Bureau of Change operator in Wuse Zone 4, Abuja, Abubakar Hassan.

This comes as the foreign reserves stood at $49.13 billion as of April 2, 2026, according to the apex bank data.

The mixed sentiment of the country’s currency against the dollar comes at a time when external reserves depleted from $50 billion in March to the current standing of $49.13 billion.

Recall that the Naira depreciated against the dollar at the official market on Thursday last week but gained at the black market.