The Naira recorded its first depreciation against the US Dollar at the official foreign exchange market on Wednesday, marking the first decline since Monday, July 28, 2025.
Data from the Central Bank of Nigeria (CBN) shows that the naira fell to N1,533.18 per dollar on Wednesday, compared to N1,531.84 the previous day — a day-to-day drop of N1.34.
According to GIST9JA, this marks the local currency’s first loss at the official market this week.However, at the parallel (black) market, the naira remained unchanged at N1,545 per dollar — the same rate as Tuesday.
This slight dip comes despite a boost in Nigeria’s foreign reserves, which rose from $39.14 billion on July 28 to $39.27 billion on July 29, according to the CBN.
