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The naira extended its losing streak against the dollar for the third consecutive day this week at the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) revealed that the naira weakened slightly on Wednesday, trading at ₦1,535.61 per dollar—down from ₦1,535.24 recorded on Tuesday.
This reflects a marginal depreciation of 0.37 naira in day-to-day performance.
Between Monday and Wednesday, the naira has fallen by a total of ₦3.07 at the official market.
On the parallel market, however, the naira held steady, exchanging at ₦1,540 per dollar on Wednesday—the same rate quoted by most Bureau De Change operators in Abuja’s Wuse Zone 4.
Meanwhile, CBN Governor Olayemi Cardoso, in his post-Monetary Policy Committee (MPC) briefing following the 301st meeting this week, stated that Nigeria’s external reserves stood at $40.1 billion as of July 18, 2025.
But a review of data published on the CBN’s website on Thursday showed that the reserves had declined to $38.37 billion by July 22, 2025.
