Naira drops to N1,365.69/$ as three-day depreciation continues
The Nigerian Naira weakened further to N1,365.69 against the US dollar at the official foreign exchange market on Friday, August 6, 2026, down from N1,364.88 on Thursday—a daily drop of N0.81. At the parallel market, the Naira held steady at N1,430/$ for the second day running. Central Bank data also showed the country’s external reserves rose to $52.03 billion on Thursday. Over the week, the Naira depreciated by N2.53 at the official window and N5 at the black market, according to DAILY POST.
This continued slide raises concerns for importers, manufacturers, and anyone with foreign currency obligations, as a weaker Naira increases import costs and can feed into inflation. Despite reserve growth, the currency faces pressure, suggesting market sentiment remains fragile. Businesses may need to revisit pricing strategies, while individuals planning overseas transactions should monitor rates closely.
Will you adjust your foreign exchange budgeting, consider hedging tools, or delay non-essential dollar purchases to mitigate the impact of further naira weakness?