Nigerian currency loses value against dollar today
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Nigerian currency loses value against dollar today

By Advocate | June 4, 2026 | 1 min read |

Nigeria's currency weakened against the greenback Thursday at the official forex window. Central Bank data showed the naira slipped to N1,358.75 per dollar from Wednesday's N1,357.26. That marks a loss…

Nigeria's currency weakened against the greenback Thursday at the official forex window. Central Bank data showed the naira slipped to N1,358.75 per dollar from Wednesday's N1,357.26.

That marks a loss of N1.49 in a single day. It's the first decline the local unit has suffered all week.

On the parallel market, traders kept rates unchanged at N1,395 per dollar. Both Thursday and Wednesday saw identical black market quotes.

The currency slide comes even as Nigeria's foreign reserves keep climbing upward. As of June 3, reserves hit $49.96 billion, according to official figures.

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