Nigerian Naira records first depreciation against US dollar after eight-day rally

The Nigerian Naira connected Wednesday recorded its archetypal depreciation against the dollar astatine the authoritative overseas speech marketplace aft 8 days of rally.

Data from the Central Bank of Nigeria showed that the Naira dropped to N1,353.90 per dollar connected Wednesday from N1,344.4158.

This means that the section currency weakened by N9.48 against the dollar connected a day-to-day basis.

Meanwhile, astatine the achromatic market, the Naira appreciated by N10 to N1,420 per dollar connected Wednesday from N1,430 traded the erstwhile day.

DAILY POST reports that the Naira, successful its rally since March 9, gained N51.72 against the dollar.

The improvement comes arsenic the country’s outer reserves stood astatine $49.83 cardinal arsenic of March 17, 2026, somewhat beneath the $50 cardinal mark, according to the apex bank.

Nigerian Naira records archetypal depreciation against US dollar aft eight-day rally