Nigerian naira extends depreciation against US dollar across black, official markets

The Nigerian Naira extended its significant depreciation streak against the United States Dollar across parallel and official foreign exchange markets.

At the black market, Abubakar Hassan, a Bureau De Change Operator in Wuse Zone 4, told DAILY POST that the Naira weakened to N1405 per dollar on Thursday, up from N1390 the previous day.

This means that on a day-to-day basis, the Naira slipped by N15 at the black market.

Similarly, at the official foreign exchange, the Naira further dropped to N1,387.45 per dollar on Thursday, down from N1,387.09 traded the previous day. DAILY POST reports that the local currency has faced its tenth straight depreciation against the dollar at the official market.

The downward trend of the naira across foreign markets comes despite the $49.88 billion on March 3, 2026, up from $49.60 billion last month.

Recall that it dipped by N37.85 against the dollar at the official foreign exchange after the ninth day of depreciation.