Naira Drops to N1,360/$1 at Official Market, Weakens Against Pound and Euro
By Aboki Forex —
The naira weakened against the US dollar at the official foreign exchange market on Wednesday, June 17, 2026. It closed at N1,360.07/$1, down 0.21% or N2.89 from the previous day's rate of N1,357.18/$1.
The local currency also lost ground against the British pound and the euro. It fell by N4.42 against the pound to trade at N1,824.81/£1. Against the euro, it dropped N4.19 to close at N1,577.96/€1.
At the GTBank segment of the market, the naira saw a slight gain. It appreciated by N1 against the dollar to exchange at N1,372/$1 from N1,373/$1.
On the parallel market, the naira fell to N1,400 against the dollar.
The latest movement comes amid limited foreign exchange inflows from exporters, non-bank corporates and foreign investors. Nigeria's gross external reserves remain under pressure as demand for dollars continues to outpace supply.