Society
Nigeria’s foreign reserves fall to $51.96bn as Naira declines against US dollar
Nigeria’s foreign exchange reserves have recorded their first decline in several days, falling to $51.96 billion on July 27, 2026, from $52.02 billion recorded on July 24, 2026, according to data released by the Central Bank of Nigeria, CBN.
The latest figures show that the country’s external reserves declined by approximately $60 million, ending a four-day streak of sustained gains.
The drop marks the first decline in Nigeria’s foreign reserves since last week, when the reserves stood at $52.02 billion.
The movement in the reserves comes amid continued pressure on the foreign exchange market.
Meanwhile, the Nigerian currency extended its losses against the United States dollar at the official foreign exchange market on Tuesday.
CBN data showed that the Naira depreciated to N1,365.53/$1, compared to N1,362.21/$1 recorded on Monday.
At the parallel market, the Naira exchanged at N1,410 per dollar.
The latest developments highlight the persistent volatility in Nigeria’s foreign exchange market.
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