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Naira depreciates at the official FX market after recent gains
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Currency falls to ₦1,366.06/$, losing ₦7.78 in one day
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Black market rate remains unchanged as foreign reserves stand at $46.81bn
The naira on Thursday depreciated against the United States dollar at the official foreign exchange market, reversing gains recorded over the previous two trading sessions.
Data from the Central Bank of Nigeria (CBN) showed that the naira closed at ₦1,366.06 per dollar on Thursday, down from ₦1,358.28 exchanged on Wednesday.
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This represents a day-on-day depreciation of ₦7.78 against the dollar at the official window.
At the parallel market, the local currency remained stable, exchanging at ₦1,460 per dollar on Thursday, unchanged from the rate recorded the previous day.
The latest movement comes amid steady external buffers, with Nigeria’s foreign exchange reserves standing at $46.81 billion as of February 4, 2026, according to data from the apex bank.
Recall that the naira had recorded a strong rebound earlier in the week, appreciating by ₦32.08 against the dollar between Tuesday and Wednesday at the official market.
