FX: Naira records fresh loss as dollar closes at N1,331

The naira weakened against the US dollar at the official foreign exchange market for the third consecutive day.

Data from the Central Bank of Nigeria showed that the naira closed at N1,331.28 per dollar on Thursday, September 17, 2026.

This was lower than the N1,329.86 recorded on Wednesday, meaning the naira lost N1.42 against the dollar in one day.

The naira also weakened at the parallel market.

At the black market, the dollar was exchanged for N1,392 on Thursday, compared with N1,390 on Wednesday. This represents a N2 decline in the value of the naira.

The latest movement means the local currency has recorded three straight sessions of depreciation against the US dollar at the official foreign exchange market.

The development came as Nigeria’s foreign exchange reserves stood at $54.67 billion as of September 16, 2026.

The naira had also ended the previous two trading sessions on a weaker note against the dollar at the official FX market.

The continued decline comes amid movements in the foreign exchange market, with traders and businesses closely monitoring the naira’s performance against major international currencies.