The Nigerian naira continued its depreciation against the US dollar in the official foreign exchange market on Thursday. Central Bank of Nigeria data revealed the naira weakened to N1,447.83 per dollar, a slight dip from N1,447.65 on Wednesday.
Conversely, the parallel market rate remained stable at N1,475 per dollar. This marks a second straight day of depreciation for the naira, despite Nigeria’s foreign reserves reaching $44.97 billion by November 3, 2025.