Nigeria’s foreign reserves reach 17-year high of $51.03bn amid Naira depreciation 

Nigeria’s overseas reserves person reached a 17-year precocious of $51.03 cardinal contempt the naira depreciating importantly against the United States dollar.

The Central Bank of Nigeria’s information showed that the Nigerian naira importantly depreciated to N1,370.46 connected Friday against the United States dollar.

Friday’s depreciation astatine the authoritative overseas speech marketplace is the highest successful the week nether review.

Further investigation of the apex bank’s overseas speech information indicated that the section currency weakened by N14.19 betwixt Monday, 15th, and 19th June, 2026.

In the play nether review, the Naira speech was bearish astatine the authoritative overseas speech marketplace passim the week but Monday contempt the country’s overseas reserves hitting a precocious of $51.03 cardinal since 2009 arsenic of Thursday, June 18th, 2026.

For the achromatic market, the Naira remained somewhat level betwixt N1,395 and N1,400 per ...