The Naira depreciated against the dollar at the official foreign exchange market on Wednesday.
The Central Bank of Nigeria’s data showed that the Naira weakened for the first time this week to N1,362.05 per dollar on Wednesday, down from N1,360.55 traded on Tuesday.
This means that on a day-to-day basis, the Naira dipped by N1.5 against the dollar.
The development comes as the country’s foreign reserves continued surge to $50.35 billion as of June 9th 2026, according to the apex bank data.
Meanwhile, at the black market, the Naira remained unchanged at N1,395 per dollar on Wednesday, the same rate as exchanged on Tuesday.
Recall that in the past two days this week, the Naira had appreciated against the dollar.
