Business
Naira Hits Week’s Lowest Against US Dollar Despite Boost in Foreign Reserves
The Naira plunged to its lowest level against the US dollar this week just a day after recording a slight gain, according to the latest data from the Central Bank of Nigeria. On Wednesday, the official exchange rate showed the Naira at N1,454.19 per dollar, down from N1,447.43 on Tuesday, marking a daily depreciation of N6.76—the steepest this week.
In the parallel market, the Naira remained unchanged at N1,465 per dollar, maintaining the same rate recorded since Monday. Analysts note that this official market decline comes even as Nigeria’s foreign reserves rose to $44.05 billion as of November 18, 2025. The drop follows Tuesday’s modest appreciation of the Naira, highlighting the continued volatility in the country’s currency market.
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