Naira Falls to N1,366.56 per Dollar at Official Market

The Nigerian naira slipped against the U.S. dollar on Tuesday in the official foreign‑exchange market, marking a modest decline from the previous day.

According to data released by the Central Bank of Nigeria (CBN), the official exchange rate moved to N1,366.56 per dollar, up from N1,365.25 on Monday. The one‑point, or roughly N1.3, change represents a day‑to‑day weakening of the naira at the government‑mandated rate.

In the parallel or “black” market, the naira’s value remained unchanged at N1,395 per dollar, the same level reported on Monday. The stability on the informal market contrasts with the slight depreciation observed in the official channel.

The CBN also provided an update on the country’s foreign‑exchange reserves. As of 30 April 2026, Nigeria’s external reserves stood at $48.36 billion. The figure reflects the central bank’s ongoing efforts to manage liquidity and maintain confidence in the national currency.

The modest rise in the official rate follows a relatively strong start to the week. On Monday, the naira had gained more than N9 against the dollar, a move that was welcomed by market participants seeking relief from persistent depreciation pressures.

Nigeria’s exchange‑rate dynamics continue to be shaped by a combination of domestic monetary policy, external financing flows, and fluctuations in global commodity prices, particularly oil. The central bank’s interventions in the official market aim to anchor the naira and support imports, while the black‑market rate often serves as a barometer of broader market sentiment.

The latest data suggest that, although the official market shows a slight weakening, the overall situation remains relatively stable compared with previous months of sharper volatility. Monitoring both the official and parallel rates will be essential for businesses, investors, and policymakers as they assess Nigeria’s macro‑economic trajectory and the effectiveness of the CBN’s monetary stance.