Market News
Nigerian currency depreciates - DAILY POST
By Ogaga Ariemu
The naira recorded depreciation against the dollar on Thursday at the official foreign exchange market.
The Central Bank of Nigeria’s data showed that the naira weakened slightly to N1,358.75 per dollar on Thursday from N1,357.26 traded on Wednesday.
This means that the Naira dropped by N1.49 against the dollar on a day-to-day basis. DAILY POST reports that this is the first Nigerian currency decline since this week.
Meanwhile, at the black market, the Naira remained stable at N1395 per dollar on Thursday, the same rate exchanged on Wednesday.
The development comes amid the continued surge in the country’s foreign reserves, which stood at $49.96 billion as of June 3, 2026.
