The Naira has recorded nine consecutive days of depreciation against the United States dollar at the official foreign exchange market on Wednesday.

Central Bank of Nigeria exchange rate data showed that the Naira further weakened on Wednesday to N1,387.09, down from N1,384.29 on Tuesday.

This means that the Naira dipped by N2.8 on a day-to-day basis. Meanwhile, the Naira dropped significantly by N37.85 since February 23, 2026, when the currency started its depreciation streak at the official foreign exchange market.

At the black market, the Naira remained stable at N1,390 per dollar, according to multiple Bureau de Change operators in Abuja, up from N1,370 recorded nine days ago.

Meanwhile, the country’s external reserves rose further to $49.88 billion as of March 3, 2026.