The naira weakened for the third consecutive time against the dollar in 2025. On Wednesday, it fell to N1,541.70 per dollar, down from N1,537.03 on Tuesday, according to FMDQ data. This represents a decrease of N4.67 in the official market. Conversely, in the black market, the naira appreciated by N5, finishing at N1,660 on Wednesday, compared to N1,665 on Tuesday. DAILY POST reports that the naira has consistently devalued against the dollar in the official market since the beginning of the week on Monday. In the parallel market, the naira has consistently held at N1665 per dollar, except for today. According to DAILY POST, Nigeria’s external reserves rose to $40.920 billion as of January 6, 2025.
