The naira recorded its first depreciation against the dollar at the official foreign exchange market on Wednesday.
Data from the Central Bank of Nigeria (CBN) showed that the local currency weakened for the first time this week, closing at N1,350.41 per dollar on Wednesday, compared to N1,343.32 exchanged on Tuesday.
This means that the naira depreciated by N7.09 against the dollar on a day-to-day basis.
Meanwhile, at the black market, the naira remained unchanged at N1,405 per dollar on Wednesday, the same rate recorded on Tuesday.
This comes as the country’s foreign reserves stood at $52.32 billion as of August 17, 2026.
Recall that the naira recorded two consecutive days of appreciation against the dollar on Monday and Tuesday at the official foreign exchange market.
Global oil price rises sharply after vessel attack at Strait of Hormuz
NGX: Investors lose N4.5tn in six consecutive sessions after management’s visit to Tinubu
Dollar to Naira exchange rate Today, August 18, 2026: Nigerian Naira extends appreciation against US currency
Fuel price: Dangote Refinery’s PMS cheaper than imported petrol
From megawatts to prosperity: Rural electrification in age of AI- REA MD Abba Aliyu
Nigeria: Why food prices, cost of living keep rising despite inflation drop – Economists
CPPE boss, Yusuf outlines what Nigerian govt must do to enhance living conditions
Nigeria’s inflation rate stands at 40% – Ex-CIBN president counters NBS
Cooking gas update in Nigeria after Dangote, depot owners reduce LPG prices
