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Nigerian currency returns to depreciation - DAILY POST
The naira depreciated slightly against the dollar at the official foreign exchange market on Thursday.
Data from the Central Bank of Nigeria showed that the naira weakened to N1,370.89 on Thursday, compared to N1,370.56 exchanged on Wednesday.
This means the naira dropped slightly by N0.33 against the dollar on a day-to-day basis.
Meanwhile, at the black market, the local currency remained flat at N1,395 per dollar, the same exchange rate recorded since Monday.
The mixed performance of the naira across foreign exchange markets comes despite the increase in the country’s foreign reserves, which rose to $48.51 billion as of May 13, 2026.
Recall that on Wednesday, the naira strengthened against the dollar at the official foreign exchange market.
