Naira depreciates against US dollar

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On Thursday, the naira weakened against the dollar in the official foreign exchange market, marking its second decline in three days.

According to data from the Central Bank of Nigeria, the Naira fell to N1,420.69 on Thursday, down from the N1,419.35 it was traded at on Wednesday.

This indicates that the naira depreciated by N1.34 against the dollar on a daily basis.

On the black market, however, the Naira appreciated by N3, closing at N1,490 per dollar on Thursday, compared to the previous day’s rate of N1,493.

Naira’s performance over the last three days had shown a combination of losses and gains.

This development occurred while the foreign reserves were at $45.95 billion as of Monday, January 19, 2026.

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