Lagos, June 25, 2026 – The Nigerian currency, Naira, depreciated further to N1,380.0775 to the dollar at the official foreign exchange market on Wednesday.
The naira exchange rate was N1,370.6373 to the dollar at the market on Tuesday.
The currency has been depreciating steadily in the market in the last five trading days in spite of the stance of the International Monetary Fund (IMF) that the naira is undervalued.
Bid rates quoted by dealers in the market ranged from N1,368 to N1,392 to the dollar.
Meanwhile, the naira is being traded at the black market in Lagos between N1,390 and N1,395 to the dollar.
