The Naira depreciated to ₦1,494.03 per dollar on Wednesday at the official foreign exchange market, down from Tuesday’s ₦1,484.14 peak, according to data from the Central Bank of Nigeria.
This means the local currency weakened by ₦9.89 against the US dollar on a day-to-day basis.
At the parallel market, however, the Naira remained stable at ₦1,537 per dollar, unchanged from Tuesday’s rate.
The movement comes a day after the Naira recorded its highest single-day gain and seven-month peak at the official window.
Meanwhile, Nigeria’s external reserves continued their upward trend, reaching $41.89 billion as of September 16, 2025.
