Naira weakens as foreign reserves dip after months of growth
External reserves, which had steadily increased for over two months, have now started to decline, marking the first drop since October 8, 2025. The reserves, which surpassed the $45bn mark in December 2025, fell to $45.21bn by December 17, 2025. Meanwhile, the naira lost ₦10 against the dollar in a single week, settling at ₦1,464.50/$. Despite interventions by the Central Bank, demand pressure continues to affect the currency.
TLDR
- Nigeria’s external reserves dropped to $45.21bn on December 17, 2025, after steady growth since September 2025.
- The naira depreciated by ₦10/$ in one week, closing at ₦1,464.50/$ at the official market on Friday.
- AIICO Capital noted that the naira weakened despite interventions by the Central Bank and foreign investor inflows.
- The naira traded between ₦1,450.00 and ₦1,469.90 per dollar during the week, with only a brief appreciation on Tuesday.
- The Central Bank’s November survey projects a gradual appreciation of the naira over the next six months, up to May 2026.
