Nigeria's currency weakened against the dollar on Wednesday at the official market. Central Bank figures showed the Naira fell to N1,362.05 per dollar, compared to N1,360.55 the previous day.
That's a daily loss of N1.5 for the local unit. It marks the first decline this week after two consecutive days of gains.
The CBN reported that foreign reserves climbed to $50.35 billion as of June 9th. This came despite the Naira's downturn against the greenback.
Black market dealers kept their rates flat at N1,395 per dollar. Wednesday's unofficial rate matched Tuesday's closing figure exactly.
Traders had watched the currency appreciate on Monday and Tuesday. Wednesday's depreciation reversed that brief upward momentum.
