The naira weakened against the dollar across both the official and parallel markets on Tuesday. Data from the Central Bank of Nigeria showed the currency dropped to N1,375.75 per dollar, compared with N1,368.27 the previous day, representing a loss of N7.48.
On the black market, the depreciation was steeper. The naira slid to N1,415 per dollar on Tuesday, down from N1,410 on Monday.
The currency's slide came even as Nigeria's foreign exchange reserves climbed to $51.58 billion as of July 6, 2026. The reserves had been building steadily in recent weeks.
The movement marked a reversal of Monday's pattern, when the naira had gained ground at the official window but weakened on the parallel market. Tuesday's losses suggest sustained pressure on the currency across both segments.
