Naira records first depreciation against dollar

The Naira recorded depreciation against the dollar at the official foreign exchange market on Thursday, for the first time since August 20, 2025.

The Central Bank of Nigeria’s data showed that the Naira dropped to N1,502.13 against the dollar on Thursday, down from N1,500.92 traded on Wednesday.

This means that Nigeria’s currency weakened by N1.21 against the dollar on a day-to-day basis.

Meanwhile, at the black market, the Naira remained stable at N1,530 per dollar on Thursday, the same rate as on Wednesday.

the last time the Naira dropped at the official foreign exchange was on August 20, 2025, when it stood at N1,536.73 per dollar at the back of rising external reserves, which stood at $41.62 billion as of September 10, 2025.