Nigerian currency weakens against the dollar amid market pressures today
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Nigerian currency weakens against the dollar amid market pressures today

By Advocate | May 5, 2026 | 1 min read |

Nigeria's currency weakened against the dollar at the official market on Tuesday. Data from the Central Bank showed the Naira fell to N1,366.56 per dollar, down from N1,365.25 the previous…

Nigeria's currency weakened against the dollar at the official market on Tuesday. Data from the Central Bank showed the Naira fell to N1,366.56 per dollar, down from N1,365.25 the previous day.

That represents a one-day loss of N1.31 in value. The depreciation came after Monday's stronger performance.

On the parallel market, rates stayed flat at N1,395 to the dollar. Traders reported no movement from the previous session's closing.

Foreign reserves held steady at $48.36 billion as of April 30. The central bank's figures showed no change from earlier assessments.

Monday had brought relief to forex watchers. The currency gained over N9 that day, signaling temporary strength.

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