The naira sustained its slide against the United States dollar at the official foreign exchange window over the last two days, reflecting persistent pressure on the local currency alongside a modest decline in Nigeria’s external reserves.
Figures released by the Central Bank of Nigeria (CBN) show that the naira closed at N1,455.50 to the dollar on Wednesday, down from N1,451.82 on Monday. The movement represents a depreciation of about N3.7 within the week.
In contrast, the currency remained stable at the parallel market, trading at N1,495 to the dollar since Monday, based on checks with Bureau De Change operators in Abuja.
Analysts link the continued strain on the naira to pressures in the foreign exchange market, compounded by a slight erosion in external buffers. Data indicate that Nigeria’s external reserves declined to $45.32 billion as of December 15, 2025, from $45.47 billion recorded three days earlier.
The dip in reserves has renewed concerns over foreign exchange liquidity and the ability of the economy to meet rising demand for dollars in the near term.
