The Naira weakened against the US dollar at the official foreign exchange market on Tuesday, April 7, 2026, following the Easter holidays.
Data released by the Central Bank of Nigeria (CBN) showed the local currency depreciated to N1,386.68 per dollar, down from N1,380.79 recorded last Thursday before the break. This reflects a decline of N5.89 upon the resumption of trading.
In contrast, the naira showed marginal strength at the parallel market. It appreciated to N1,404 per dollar on Tuesday, compared to rates ranging between N1,410 and N1,415 before the Easter holidays, according to a Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Hassan.
The mixed performance comes amid a decline in Nigeria’s external reserves, which dropped to $49.13 billion as of April 2, 2026, from about $50 billion recorded in March, based on data from the apex bank.
The latest movements highlight ongoing volatility in the foreign exchange market, as the naira continues to face pressure at the official window despite intermittent gains in the parallel market.
