Naira Depreciates Against US Dollar Ahead of New Year

The Nigerian Naira weakened against the US dollar at the official foreign exchange market on Tuesday, signaling pressure on the local currency ahead of the new year.

Data from the Central Bank of Nigeria (CBN) showed that the Naira fell to N1,445.68 per dollar, down from N1,442.51 recorded on Monday, representing a daily depreciation of N3.17. The last significant dip at the official market was recorded on December 18, 2025, when the Naira traded at N1,457.84 per dollar.

In the parallel market, the Naira remained stable at N1,475 per dollar on Tuesday, unchanged from the previous day.

Analysts suggest that mixed sentiment in the foreign exchange market persists despite Nigeria’s growing external reserves, which rose to $45.45 billion as of December 29, 2025.