Naira records depreciation against US dollar after two-day gain

The naira recorded depreciation against the United States dollar on Thursday at the official foreign exchange as a two-day massive gain.

The Central Bank of Nigeria’s data showed that on Thursday the Naira dropped to N1,366.06 against the dollar, down from N1,358.28 was traded on Wednesday.

This means that on a day-to-day basis the Naira weakened by N7.78 against the dollar.

Meanwhile, at the black market, the Naira remained flat at N1,460 per dollar on Thursday, the same exchange rate as on Wednesday.

The development comes as the country’s foreign reserves stood at $46.81 billion as of 4th February 2026, according to the apex bank data.

Recall that the naira had gained N32.08 against the dollar from Tuesday to Wednesday at the official foreign exchange market.