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Edited: The Naira continued to depreciate against the dollar on Tuesday in the official foreign exchange market ahead of the Central Bank of Nigeria’s upcoming interest‑rate announcement.
According to the apex bank, the Naira fell slightly to N1,373.87 per dollar on Tuesday, compared with N1,373.70 on Monday.
Thus, the Naira weakened by N0.17 against the dollar on a day‑to‑day basis in the official market.
In contrast, the black‑market rate remained unchanged at N1,400 per dollar on Tuesday, the same level recorded on Monday.
This movement occurs while foreign reserves have continued to climb, reaching $48.68 billion as of May 18 2026.
DAILY POST reports that the apex bank is expected to release its new monetary‑policy decision on Wednesday following its 305th meeting.
Recall that the Naira had weakened against the dollar in the official FX market.

2 months ago
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