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The naira weakened against the US dollar, British pound sterling, and euro in the official foreign exchange market on Tuesday, July 28Interbank FX turnover surged by 160% to over $102 million, with the number of deals rising sharply from 55 to 121Nigeria’s external reserves came under pressure following CBN interventions in the currency market the previous week
The naira fell against the United States dollar and other major currencies in the official foreign exchange market on Tuesday, July 28, 2026, according to data from the Nigerian Foreign Exchange Market (NFEM).
The local currency closed at N1,365.53 to the dollar, a drop of N3.32 from the N1,362.21 recorded in the previous trading session.
Nigeria’s official exchange rate records another decline Photo: BloombergSource: Getty Images
Against the British pound sterling, the naira lost N2.38, settling at N1,816.43 per pound compared with N1,814.05 the day before.
It also weakened against the euro, shedding N2.69 to close
