The Naira has continued its downward trend, recording nine straight days of depreciation against the US dollar at the official exchange market. On Wednesday, it fell to N1,387.09 from N1,384.29 the previous day, losing N2.8 in 24 hours.
Since February 23, 2026, the Naira has shed a total of N37.85, marking a significant decline over the nine-day period. The depreciation highlights ongoing pressure on the country’s foreign exchange market.
At the black market, the Naira held steady at N1,390 per dollar, slightly up from N1,370 recorded nine days ago, according to Bureau de Change operators in Abuja.
Despite the currency slump, Nigeria’s external reserves increased to $49.88 billion as of March 3, 2026, providing some cushion against further volatility.
