See Exchange Rate As Naira Falls At Official And Black Markets

Naira has depreciated against Dollar.

The currency depreciated against the dollar across official and parallel foreign exchange markets according to data from the Central Bank of Nigeria.

The data showed that the Naira dropped to N1,470.26, from N1,465.68 traded.

This means that the Naira weakened by N4.58 per dollar compared to the N1,465.68 recorded.

Similarly, at the black market, the Naira dropped to N1,505 per dollar, down from N1,495 traded at the close of business.

Bureau de Change operators attributed the drop to rising demand for foreign exchange.

Recall that the Naira had also eased against the Dollar on Friday.

This comes despite the continued rise in Nigeria’s external reserves to $42.44 billion as of October 3, 2025.