The Nigerian naira extended its depreciation against the US dollar at the official foreign exchange market on Thursday.
Data from the Central Bank of Nigeria, CBN, showed that the naira dipped further to N1,366.73 per dollar on Thursday, from N1,366.71 recorded on Wednesday.
This means the naira weakened slightly by N0.02 against the dollar on a day-to-day basis at the official market.
Similarly, at the black market, the naira depreciated by N3 to N1,418 per dollar on Thursday, from N1,415 traded on Wednesday.
The development comes as the country’s foreign reserves dropped to $51.92 billion on July 29, 2026, from $51.94 billion recorded the previous day, according to data from the apex bank.
Recall that in the last three days, the naira has recorded consecutive declines against the dollar at the official foreign exchange market.