Naira falls against dollar for third consecutive day

The naira fell for the third straight time against the dollar at the foreign exchange in 2025.

This comes as the naira dipped to N1,541.70 per dollar on Wednesday from N1,537.03 traded on Tuesday, according to FMDQ data.

This indicated that the naira dropped by N4.67 on the official market.

Meanwhile, on the black market, the naira gained N5, closing at N1660 on Wednesday from N1665, which was exchanged on Tuesday.

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Newspot reports that since the week began on Monday, the naira has continued to depreciate against the dollar at the official market. However, in the parallel market, the naira has remained stable at N1665 per dollar except today.

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Newspot reports that Nigeria’s external reserves increased to $40.920 billion as of January 6, 2025.