The Nigerian naira depreciated against the United States dollar on Tuesday across both the official and parallel foreign exchange markets, according to the latest market data.
Figures published by the Central Bank of Nigeria, CBN, showed that the naira closed at N1,375.75 per dollar on Tuesday, compared to N1,368.27 recorded on Monday.
The latest exchange rate indicates a day-on-day depreciation of N7.48 at the official foreign exchange window.
Similarly, the naira weakened in the parallel market, where the dollar traded at N1,415 on Tuesday, up from N1,410 exchanged the previous day.
Despite the currency’s decline, Nigeria’s external reserves continued their upward trajectory, rising to $51.58 billion as of July 6, 2026, reflecting sustained growth in the country’s foreign exchange buffers.
The latest performance comes a day after the naira appreciated against the dollar at the official market while recording a slight depreciation in the parallel market.
