The naira weakened slightly against the United States dollar at the official foreign exchange market on Wednesday, marking its first depreciation of the week.
Data from the Central Bank of Nigeria (CBN) showed that the local currency fell to N1,420.04 per dollar on Wednesday, compared to N1,419.66 recorded on Tuesday. This represents a marginal day-on-day loss of 38 kobo.
DAILY POST reports that the decline came after the naira posted two consecutive days of appreciation at the official market on Monday and Tuesday.
At the parallel market, however, the naira remained stable, exchanging at N1,490 per dollar on Wednesday, unchanged from the previous day.
The latest movement occurred despite a continued increase in Nigeria’s foreign exchange reserves, which rose to $45.74 billion as of January 12, 2026, according to data from the apex bank.
