Naira Weakens to N1,375/$ at Official Market Ahead of Eid-ul-Adha
By Aboki Forex —
The Naira depreciated against the dollar at the official foreign exchange market on Tuesday, just before the Eid-ul-Adha holidays. Central Bank of Nigeria data showed the Naira weakened to N1,375.41 per dollar on Tuesday, down from N1,374.92 traded on Monday. That is a drop of N0.48 on a day-to-day basis.
At the black market, the Naira remained flat at N1,395 per dollar on Tuesday, the same rate recorded on Monday. The Nigerian currency had appreciated across both official and black markets on Monday, starting the week on a positive note.
The development comes as Nigeria’s external reserves rose to $49.26 billion as of May 25th, 2026.