The Naira recorded the highest depreciation against the United States dollar on Wednesday at the official foreign exchange market this week.
The Central Bank of Nigeria’s exchange rate data showed that the Naira dropped further to N1,454.19 per dollar on Wednesday, down from N1,447.43 traded on Tuesday.
This means that the Naira weakened by N6.76 on Wednesday, indicating the highest day-to-day depreciation this week.
Meanwhile at the black market, the naira remained flat at N1,465 per dollar, the same rate recorded since Monday.
Newspot reports that Wednesday’s drop in the naira against the dollar at the official market, which is the second time this week, comes at a time the country’s foreign reserves surge to $44.05 billion as of November 18th, 2025.
Recall that on Tuesday, the naira appreciated slightly against the dollar at the official foreign exchange market.
