The naira declined 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, as per FMDQ data, marking a decrease of N4.67 in the official market. In contrast, on the black market, the naira appreciated by N5, ending at N1,660 on Wednesday compared to N1,665 on Tuesday. DAILY POST notes that the naira has been steadily losing value against the dollar in the official market since the week started on Monday. In the parallel market, the naira has mostly stayed steady at N1665 per dollar, with the exception of today. According to DAILY POST, Nigeria’s external reserves rose to $40.920 billion as of January 6, 2025.
