The Naira recorded its second consecutive depreciation against the US dollar at the official foreign exchange market on Tuesday, continuing a bearish trend this week.

According to Central Bank of Nigeria (CBN) data, the Naira weakened to ₦1,438.71 per dollar, down from ₦1,437.29 on Monday, marking a drop of ₦1.42 on a day-to-day basis.

At the black market, the Naira remained unchanged at ₦1,465 per dollar, maintaining the same rate as Monday.

This decline represents the second consecutive fall of the Nigerian currency at the official market since the beginning of the week.

Meanwhile, the country’s external reserves continued to rise, standing at $43.37 billion as of Monday, November 10, 2025, up slightly from $43.35 billion on November 7.

The recent trend highlights the ongoing pressure on the Naira, despite growing foreign reserves, reflecting the challenges in stabilizing the currency in Nigeria’s foreign exchange market.