Naira plunges to N1,370.46/$ official rate June 18 as weekly drop peaks
The Naira weakened to N1,370.46 against the dollar at Nigeria's official FX market on Friday, June 18, 2026—up N7.2 from Thursday's N1,363.30 rate. This marked the currency's steepest single-day decline that week, pushing its weekly loss to N14.19 against the dollar.
Meanwhile, the parallel market held steady at N1,395/$ unchanged from Thursday. The Central Bank's data shows the Naira depreciated every weekday except Monday during this period.
The drop coincides with Nigeria's external debt rising to $51.03 billion as of Thursday, according to official figures. With the official rate now significantly weaker than the black market, importers and forex-dependent businesses face higher costs.
Will you adjust your budget for dollar-denominated expenses, hold off on foreign purchases, or explore hedging options as the Naira continues its slide?