Lagos, Oct. 16, 2025 – The Nigerian currency, the Naira, depreciated further at the official foreign exchange market on Thursday, closing at N1,474 to the dollar.
The naira had closed at N1,472.5000 to the dollar at the market on Wednesday.
The naira has been depreciating at the market since Monday, Oct. 13 when it depreciated to N1,460 from N1,458 to the dollar on Friday, Oct. 10, 2025.
Bid rates quoted by dealers at the market on Thursday ranged from N1,464.4200 to N1,475.0000 to the dollar.
Meanwhile, the naira exchange rates at the black market in Lagos on Thursday were between N1,480 and N1,490 to the dollar.
