Naira slips to N1,328.67/$ at official market, black market holds at N1,385
By Aboki Forex —
The naira extended its depreciation against the US dollar at the official foreign exchange market on Thursday. CBN data showed the currency weakened to N1,328.67 per dollar, from N1,328.50 on Wednesday.
That translates to a day-to-day depreciation of N0.17. At the black market, the naira remained flat at N1,385 per dollar on Thursday, the same rate traded the previous day.
Official market
The CBN data put the official rate at N1,328.67 on Thursday. The previous day’s close was N1,328.50. The movement was small but it extended the naira’s depreciation against the dollar at the official window.
Parallel market
The parallel market rate stayed at N1,385 per dollar. Traders quoted the same level on Wednesday. The mixed sentiment across the official and parallel markets came despite the country’s foreign reserves continuing to surge to $54.83 billion. The CBN data was as of September 23, 2026.
Reserves and market mood
The naira also recorded mixed sentiments across the foreign exchange markets on Wednesday. Thursday’s session followed the same pattern, with the official rate weaker and the black market rate unchanged. Foreign reserves stood at $54.83 billion, according to the apex bank.
What it means
The naira remains under pressure at the official window, while the parallel market has paused. The gap between the two rates is still wide. Rising reserves have not yet translated into a stronger naira across both markets.