Naira Falls Sharply to ₦1,443 per Dollar, Marks Week’s Biggest Drop
Story: written by Daniel November 13,2025
The Nigerian naira suffered its steepest fall of the week against the U.S. dollar on Wednesday, continuing its downward trend in the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) revealed that the local currency depreciated to ₦1,443.08 per dollar, compared to ₦1,438.71 traded on Tuesday — a day-to-day decline of ₦4.37.
This marks the largest single-day depreciation recorded so far this week, following smaller drops earlier on Monday and Tuesday.
Meanwhile, in the parallel (black) market, the naira traded steady at ₦1,465 per dollar, maintaining the same rate as the previous day.
The decline occurred despite a steady increase in Nigeria’s foreign reserves, which stood at $43.37 billion as of November 10, 2025.
Analysts suggest that the pressure on the naira persists due to strong dollar demand and limited forex inflows, despite efforts by monetary authorities to stabilize the market.
