The Nigerian Naira has reached a two-month low against the United States Dollar, according to the Central Bank of Nigeria’s latest data. On Wednesday, the Naira traded at N1,455.38 per dollar, down from N1,454.38 on Tuesday, marking a decline of N1 against the dollar on a day-to-day basis.
At the official foreign exchange market, the Naira has weakened by N3.517 against the dollar over the last three days, with its current exchange rate standing at N1,455.38 per dollar. This is the lowest level the Naira has reached since October 10, 2025. In contrast, the black market rate remained unchanged at N1,490 per dollar on Wednesday, the same rate as the previous day.
The decline in the Naira’s value comes despite an increase in Nigeria’s foreign reserves, which rose to $45.38 billion as of December 9th. This development may raise concerns about the country’s currency stability and its potential impact on the economy.
The Central Bank of Nigeria’s data provides insight into the Naira’s performance against major currencies, including the US dollar. The Naira’s exchange rate is closely watched by investors, businesses, and individuals, as it affects the cost of imports, inflation, and the overall economic outlook.
The current exchange rate of N1,455.38 per dollar is a significant development, as it may influence trade and investment decisions. The Naira’s value is expected to remain under scrutiny, given its potential impact on the country’s economic growth and stability. As the foreign exchange market continues to evolve, it is essential to monitor the Naira’s performance and its implications for the Nigerian economy.
