Naira slips to N1,362.05/$ as CBN data shows first weekly depreciation
The Naira depreciated to N1,362.05 per dollar on Wednesday, June 10, 2026, according to Central Bank of Nigeria data, down from N1,360.55 on Tuesday—a daily drop of N1.5. This marks the first weakening this week after two days of appreciation. Official figures also show the country's foreign reserves rose to $50.35 billion as of June 9.
The move raises import costs and inflationary pressure, affecting Nigerians who pay for goods, school fees, or medical expenses priced in dollars. Meanwhile, the parallel market rate held steady at N1,395 per dollar, unchanged from Tuesday, indicating stability in the black market despite the official shift.
If you need to purchase dollars soon, consider monitoring rates closely and possibly locking in prices through forward contracts or bureau de change offers. The growing reserves may support future stability, but watch for CBN policy signals. Will you adjust your forex purchases or hold off given the Naira's latest dip?