The Naira weakened against the US dollar at Nigeria’s official foreign exchange market on Tuesday ahead of the new year. Data from the Central Bank of Nigeria showed the currency fell to N1,445.68 per dollar, down from N1,442.51 on Monday, a day-to-day drop of N3.17. The last official decline was recorded on December 18, when the naira traded at N1,457.84 per dollar.
At the parallel market, the Naira remained unchanged at N1,475 per dollar, maintaining the same rate as Monday. The stability in the black market contrasts with the slight depreciation seen at the official rate, highlighting a mixed sentiment in the country’s foreign exchange landscape.
Despite the naira’s recent dip, Nigeria’s external reserves continue to rise, reaching $45.45 billion as of December 29, 2025. Analysts suggest that while the reserves strengthen the economy, market pressures continue to influence daily foreign exchange movements.