This post was originally published on this site.
The naira weakened against the US dollar at the official foreign exchange market, trading at N1,360.07/$1 The local currency also lost value against the British pound and euro, while it stayed unchanged at N1,385/$1The International Monetary Fund (IMF) has revealed what it considers the “fair value” of the Nigerian naira
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian naira depreciated against the United States dollar by 0.21% or N2.89 at the Nigerian Foreign Exchange Market (NAFEM) on Wednesday, June 17, 2026, closing at N1,360.07/$1 compared with Tuesday’s rate of N1,357.18/$1.
The local currency also recorded losses against other major currencies at the official market during the session.
Nigeria’s FX reserves at $50.505bn as naira remains under strain Photo: BloombergSource: Getty Images
New exchange rates
The naira weakened by N4.42 against the British pound sterling to trade at
