Business
Naira Weakens Against Dollar at Official Market
The Naira slipped against the US dollar at Nigeria’s official foreign exchange market on Wednesday.
According to the Central Bank of Nigeria (CBN), the Naira traded at ₦1,494.03 per dollar, down from ₦1,484.14 recorded on Tuesday. This represents a daily depreciation of ₦9.89.
At the parallel market, however, the Naira remained stable at ₦1,537 per dollar, unchanged from Tuesday’s rate.
The dip at the official market follows Tuesday’s record, when the Naira hit its highest single-day and seven-month peak.
Meanwhile, Nigeria’s external reserves continued to rise, reaching $41.89 billion as of September 16, 2025, according to CBN data.
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