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Nigerian currency extends depreciation for third consecutive time - DAILY POST
Nigerian currency extends depreciation for third consecutive time
The naira extended depreciation against the dollar on Thursday at the official foreign exchange market for the third consecutive time this week.
The Central Bank of Nigeria’s data showed that the Naira further slipped on Thursday to
N1,363.30 against the dollar, down from N1,360.07 traded on Wednesday.
This means that the Naira on Thursday slumped by N3.23 against the dollar on a day-to-day basis.
Meanwhile, at the black market, the Naira remained flat at N1400 per dollar on Thursday, the same rate exchanged on Wednesday.
The development comes as the country’s foreign reserves sustained a surge to $50.96 billion as of June 17th, 2026.
Recall that except for Monday, the country’s exchange rate had depreciated against the dollar at the official foreign exchange market.
