Naira Decline Deepens: Currency Hits Third Straight Depreciation Against Dollar

According to data from the Central Bank of Nigeria, the naira slipped slightly to N1,538.66 per dollar on Thursday, down from N1,537.62 on Wednesday, marking a minor decrease of N1.4.

In contrast, the parallel market saw stability, with the naira holding at N1,560 per dollar, unchanged from the previous day.

As reported by DAILY POST on Wednesday, the naira strengthened in the parallel market but weakened in the official market.

The last time the naira saw an increase in the official market this week was on March 24, 2025, when it rose to N1,531.19 per dollar, up from N1,536.89 at the end of trading the previous Friday.