The Naira weakened for the first time in three weeks, dropping to N1,502.13 per dollar at the official market while holding steady at the black market.
ABUJA, September 12, 2025 — The Naira recorded its first official depreciation in three weeks, closing at N1,502.13 against the U.S. dollar on Thursday, according to Central Bank of Nigeria (CBN) data. The figure represents a decline from Wednesday’s rate of N1,500.92, marking a day-to-day weakening of N1.21.
Meanwhile, the parallel market held steady, with traders reporting an unchanged rate of N1,530 per dollar. DAILY POST notes that the last official downturn occurred on August 20, 2025, when the currency slipped to N1,536.73 per dollar amid rising external reserves.
Nigeria’s reserves remain robust, standing at $41.62 billion as of September 10, 2025, the CBN said. Analysts attribute Thursday’s slight depreciation to routine market adjustments following weeks of relative stability.
“The Naira’s movement reflects normal market dynamics rather than a fundamental shift,” a Lagos-based forex dealer told Daily Post. Market watchers will monitor if the central bank intervenes to maintain stability as demand pressures persist.