Naira Weakens Slightly to N1,328.67 per Dollar Amid Stable Black Market Rate
Official exchange rate fell to N1,328.67 per USD on Thursday, up from N1,328.50 on Wednesday.
In Brief
- •Official exchange rate fell to N1,328.67 per USD on Thursday, up from N1,328.50 on Wednesday.
- •The Naira depreciated by N0.17 against the dollar on a day‑to‑day basis.
- •Black market rate held steady at N1,385 per USD, unchanged from the previous day.
- •Foreign reserves rose to $54.83 billion as of September 23, 2026, according to the Central Bank of Nigeria.
Why It Matters
The modest daily depreciation of the Naira reflects ongoing pressure on Nigeria’s currency, even as foreign reserves continue to climb. A stable black market rate suggests limited arbitrage opportunities, while the official market’s slight weakening may influence import costs and inflation expectations. These dynamics are crucial for businesses, investors, and policymakers navigating the country’s economic environment.
Key Details
- Official rate
- N1,328.67 per USD
- Black market rate
- N1,385 per USD
- Daily depreciation
- N0.17
- Foreign reserves
- $54.83 billion
Context & Background
The Central Bank of Nigeria reported a rise in foreign reserves to $54.83 billion as of September 23, 2026, reflecting ongoing efforts to stabilize the currency amid fluctuating market conditions.
Original Reporting & Sources
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