#foreign exchange

The naira experienced its most significant daily decline since April, closing at N1,389 per dollar in the official foreign exchange market on June 24, 2026, according to Nairametrics.

According to the Central Bank of Nigeria's monthly economic report for February 2026, net foreign exchange inflow into the economy decreased by 24 percent month-on-month, falling to $6.92 billion from $9.22 billion in January. The report indicated that this decline was driven by various factors, although specific reasons were not detailed in the blurb.

On June 23, 2026, the Euro continued to decline in value in the foreign exchange market in the country, with rates showing a decrease at CRDB and NMB banks compared to the previous day. The US Dollar remained stable during the same period, according to Nukta Africa.