Market News
Naira depreciates against USD - DAILY POST
The naira depreciated against the United States dollar at the official foreign exchange market on Wednesday.
Data from the Central Bank of Nigeria, CBN, showed that the naira weakened to N1,334.72 per dollar on Wednesday, down from N1,333.65 recorded on Tuesday.
This means that the naira lost N1.07 against the dollar on a day-to-day basis at the official foreign exchange market.
Meanwhile, at the parallel market, the naira remained unchanged at N1,375 per dollar on Wednesday, the same rate recorded the previous day.
The development comes as the country's foreign reserves rose further to $55.13 billion, according to CBN data as of October 20, 2026.
Recall that the naira appreciated slightly against the dollar at the official foreign exchange market on Tuesday.
