Naira slips to N1,328.67/$ at official market, black market steady
The Naira weakened slightly at the official foreign exchange market on Thursday, moving to N1,328.67 per US dollar from N1,328.50 the previous day—a depreciation of N0.17. Meanwhile, the black market rate held steady at N1,385 per dollar, unchanged from Wednesday. The Central Bank of Nigeria reported that foreign reserves rose to $54.83 billion as of September 23, 2026, despite the currency’s slip.
This depreciation increases the cost of imports, which can feed into inflation and squeeze household budgets. Businesses that rely on imported raw materials or finished goods may face higher expenses, potentially passing costs to consumers. Even with rising reserves, the persistent pressure on the Naira signals vulnerability in the forex market, affecting everything from fuel prices to electronics and school fees.
Will you adjust your monthly budget to accommodate higher forex‑linked expenses, consider hedging strategies for business purchases, or delay non‑essential imports until the exchange rate shows more stability?