The naira continued its depreciation against the dollar at the official foreign exchange market on Tuesday. Data from the Central Bank of Nigeria, CBN, showed that the naira weakened further to N1,350.86 per dollar on Tuesday, compared with N1,349.34 recorded the previous day. This means that the naira depreciated by N1.52 on a day-to-day basis at the official foreign exchange market.
Meanwhile, at the parallel market, the naira appreciated to N1,421 per dollar on Tuesday from N1,425 traded on Monday. This comes as the country's external reserves extended their declining streak to $54.49 billion, according to CBN data as of November 9, 2026.
DAILY POST reports that the CBN recently scheduled November 23 and 24, 2026, for its 308th Monetary Policy Committee, MPC, meeting to decide on interest rates and other monetary policy issues.
Recall that the naira depreciated across the foreign exchange markets on Monday, starting the week on a negative note.
Exchange rate today, November 10, 2026: Naira extends depreciation against USD.