The Nigerian naira fell against the United States dollar in the official foreign‑exchange market on Thursday, marking its first depreciation since August 20, 2025. Central Bank of Nigeria data show the naira slipped to 1,502.13 per dollar, down from 1,500.92 the day before, a daily weakening of 1.21. In contrast, the black‑market rate held steady at 1,530 per dollar, unchanged from the previous day.
The last depreciation in the official market occurred on August 20, 2025, when the naira was valued at 1,536.73 per dollar, a move partly linked to rising external reserves that reached $41.62 billion as of September 10, 2025. The recent decline may reflect a mix of global market fluctuations and changes in Nigeria’s external reserves.
Nigeria’s foreign‑exchange market has experienced volatility in recent years, affecting the broader economy and trade. The Central Bank of Nigeria has been working to stabilize the currency by managing external reserves and implementing supportive policies. While the official market shows depreciation, the black‑market stability suggests that supply‑and‑demand dynamics also play a role in the naira’s value.
The Central Bank’s data provide valuable insight into foreign‑exchange trends, informing economic policy and decision‑making. As Nigeria’s economy evolves, the naira’s value will remain a focal point for policymakers, businesses, and investors. Managing the foreign‑exchange market and maintaining a stable currency are crucial for sustaining economic growth and development. With the recent depreciation, the naira’s performance in the coming days and weeks will be closely watched for its implications on Nigeria’s economy.
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