The Naira on Wednesday recorded the highest daily depreciation against the United States dollar at the official foreign exchange market this week.
The Central Bank of Nigeria’s data showed that the Naira continued its bearish trend on Wednesday, dropping to N1,443.08 against the dollar, down from N1,438.71 traded on Tuesday.
This means that the naira recorded a N4.3 drop against the dollar on a day-to-day basis.
At the black market, the Naira remained stable at 1465 per dollar on Wednesday, the same exchange rate as on Tuesday.
Recall that Wednesday’s downturn is the highest depreciation against the dollar when compared to the decline on Monday and Tuesday, which stood at N2.1.
The development comes despite the continued rise in the country’s foreign reserves, which stood at $43.37 billion as of November 10, 2025.
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