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Dollar to Naira exchange rate today, June 17, 2026: Nigerian currency continues depreciation

The Naira continued to depreciate against the dollar at the official foreign exchange market on Wednesday. The Central Bank of Nigeria's data showed that...

News Desk

Staff Writer

Published

Jun 18, 2026

Source

Daily Post Nigeria

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AI Insight:The continued depreciation of the Naira is a pressing concern for Nigeria's economic stability.

The Naira continued to depreciate against the dollar at the official foreign exchange market on Wednesday, according to data released by the Central Bank of Nigeria. The Central Bank's data showed that the exchange rate stood at a record high, with the Naira trading at a significantly lower value compared to the dollar. This development is a cause for concern for economic analysts, who warn that the prolonged depreciation of the Naira could have far-reaching consequences for Nigeria's economic stability. The depreciation is attributed to a combination of factors, including a decline in foreign exchange reserves, a rise in oil prices, and a weak domestic economy. As a result, the Nigerian government is under pressure to implement policies that would help stabilize the currency and restore investor confidence in the economy.