Nigeria’s currency, the naira, experienced a marginal decline against the US dollar at the official foreign exchange market on Tuesday, reversing part of the gains recorded earlier in the week.
According to data released by the Central Bank of Nigeria, the naira depreciated to N1,366.56 per dollar, down from N1,365.25 per dollar on Monday. This represents a day-to-day weakening of N1.3 at the official window.
Despite the dip at the official market, the currency remained unchanged at the parallel (black) market, where it traded at N1,395 per dollar—maintaining the same rate recorded the previous day.
The central bank’s data also showed that Nigeria’s external reserves stood at $48.36 billion as of April 30, 2026, providing a snapshot of the country’s foreign exchange position.
The latest development comes on the heels of a stronger outing for the naira at the beginning of the week, when it appreciated by more than N9 against the dollar on Monday.
Although Tuesday’s movement was relatively minor, it highlights the ongoing fluctuations in the foreign exchange market as economic and liquidity factors continue to influence currency performance.
