The naira continued its downward trend against the US dollar in the official foreign exchange market over the past 48 hours, amid a slight decline in Nigeria’s external reserves.
Data from the Central Bank of Nigeria (CBN) shows that the naira depreciated to N1,455.50 per dollar on Wednesday, compared to N1,451.82 recorded on Monday.
READ ALSO: Cardoso courts investors at business conference between the United States and Nigeria in Washington
This represents a loss of N3.7 against the dollar for the week.
In the parallel market, however, the naira remained unchanged at 1,495 naira to the dollar since Monday, according to checks with various exchange office operators in Abuja.
The continued pressure on the local currency comes as Nigeria’s external reserves fell to $45.32 billion as of December 15, 2025, slightly below the $45.47 billion recorded on December 12, raising fresh concerns over foreign exchange liquidity.
READ MORE FROM: NIGERIAN TRIBUNE