The Naira recorded a depreciation against the United States Dollar at the official foreign exchange market on Tuesday, reversing Monday’s gain.
The Central Bank of Nigeria data showed that the Naira dipped to N1,364.89 against the dollar on Tuesday, down from N1,360.15 exchanged on Monday.
This means that, on a day-to-day basis, the Nigerian currency slipped by N4.75 per dollar.
Meanwhile, at the black market on Tuesday, the Naira appreciated slightly by N1 to N1,429 per dollar, up from N1,430 traded on Monday.
The development comes as the country’s foreign reserves rose further to $52.14 billion as of August 10, 2026.
Recall that on Monday, the Naira appreciated against the dollar at the official foreign exchange market but remained flat on the parallel foreign exchange market.