What Happened to the Naira Next Caught Traders by Surprise

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

The Nigerian currency recorded a slight decline against the United States dollar at the official foreign exchange market on Tuesday.

Data released by the Central Bank of Nigeria, CBN, indicated that the Naira closed trading at N1,357.18 per dollar on Tuesday, compared to N1,356.27 recorded on Monday.

The latest figures show that the local currency lost N0.90 against the dollar within 24 hours.

At the parallel market, however, the Naira maintained stability, exchanging at N1,395 per dollar on Tuesday, unchanged from the rate recorded a day earlier.

The contrasting performance between the official and black-market segments comes as Nigeria’s external reserves remained at $50.81 billion as of June 15, 2026.

The development follows a positive start to the week for the local currency after it strengthened against the dollar at the official foreign exchange window on Monday.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.