Business News
Naira falls against Dollar in official market
The naira depreciated against the United States dollar at the official foreign exchange market on Thursday, marking its second decline in three days.
Data from the Central Bank of Nigeria showed that the naira closed at N1,420.69 to the dollar on Thursday, compared with N1,419.35 recorded on Wednesday.
This indicates that the local currency weakened by N1.34 against the dollar on a day-to-day basis.
However, at the black market, the Naira gained N3 to close at N1,490 per dollar on Thursday compared to N1,493 exchanged the previous day.
Very Nigerian reports that in the past three days, Naira had recorded mixed sentiments of losses and gains.
This development comes as the foreign reserves stood at $45.95 billion as of Monday, 19th January 2026.
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