The Naira recorded depreciation against the Dollar at the official foreign exchange on Wednesday for the first time since Monday, July 28, 2025.
According to the Central Bank of Nigeria’s data, the naira weakened against the dollar on Wednesday from N1,533.18 exchanged on Tuesday.
This means that the Nigerian currency, the naira, dropped by N1.34 against the dollar on a day-to-day basis. DAILY POST reports that Wednesday’s
Meanwhile at the black market, the Naira remained flat at N1,545 per dollar on Wednesday, the same exchange rate traded the previous day.
The development comes despite an increase in the country’s foreign reserves to $39.27 billion as of 29th July 2025 from $39.14 billion recorded on 28th July 2025, according to CBN’s data.
