Nigeria’s currency, the naira, experienced its first decline of the week against the U.S. dollar at the official foreign exchange window on Thursday, reversing a brief period of appreciation recorded earlier.
Figures released by the Central Bank of Nigeria indicated that the naira closed at N1,353.66 per dollar, compared with N1,348.95 recorded the previous trading day. This represents a day-to-day loss of N4.71, signaling renewed pressure on the local currency after three consecutive sessions of gains.
The latest drop effectively wiped out most of the N5.51 appreciation the naira had achieved earlier in the week at the official market, highlighting the continued volatility in Nigeria’s foreign exchange landscape.
In contrast, the parallel (black) market told a slightly different story. There, the naira strengthened by N5, trading at N1,440 per dollar on Thursday, an improvement from N1,445 the day before. Currency traders attributed this marginal appreciation to recent liquidity injections by the central bank aimed at boosting supply to Bureau De Change (BDC) operators and easing demand pressure outside the official window.
Market analysts say the mixed performance across the two segments underscores the fragile balance between policy interventions and persistent demand for foreign currency by businesses, importers, and individuals.
The exchange-rate movement comes amid growing external obligations for Nigeria. Recent central bank data shows that the country’s foreign debt has climbed to $47.53 billion as of February 10, 2026, raising fresh concerns about debt servicing costs and the potential impact on foreign reserves.
Economic watchers warn that sustaining naira stability will depend largely on improved dollar inflows, stronger export earnings, and continued monetary policy measures designed to manage liquidity and curb speculative demand in the FX market.
