News Update
Nigeria currency recorded a second depreciation against the United States dollar at the official foreign exchange market.
The Central Bank of Nigeria’s data showed that the Naira weakened on Wednesday to N1,438.49 per dollar, down from N1,433.66 on Tuesday.
This means that the country’s currency dropped by N4.83 on a day-to-day basis.
Meanwhile at the black market, the Naira remained at N1450 per dollar on Wednesday, the same rate as on Tuesday.
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Recall that on Monday, the Naira depreciated massively at the official market, making it the second time the Naira has lost steam this week.
This comes despite the continued rise in the country’s external reserves, which stood at $43.28 billion as of Tuesday, 4th November, 2025, up from $43.26 recorded the previous day, according to the apex bank data.
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