The Naira depreciated against the dollar across foreign exchange markets to close Thursday’s trading on a negative note.
The Central Bank of Nigeria’s data showed that the Naira weakened to N1,353.91 on Thursday against the dollar, down from N1,348.45 traded on Wednesday.
This means that the local currency dropped significantly by N5.46 against the dollar on a day-to-day basis at the official foreign exchange.
Similarly, Abubakar Hassan, a Bureau De Operator in Wuse Zone 4, Abuja, told DAILY POST that the Naira exchanged for N1,426 on Thursday, up from N1,400.
The downward trend across FX markets on Thursday reversed the gain the Nigerian currency recorded on Wednesday.
The development follows the persistent decline of the country’s external reserves, which dropped to N48.48 billion as of March 22nd, 2026, according to the apex.
Eze Chidiebere Paul
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