A recent development saw the naira's value decrease. Data indicated a drop of N2.85 against the dollar. The previous day's rate was N1,326.30, while the new rate was N1,329.15.

External reserves were reported to be on the rise, with a total of $54.61 billion. This increase, however, did not affect the naira's performance at the black market, where the rate remained steady.

Further information on the naira's exchange rate and external reserves is available from the Central Bank of Nigeria's data. The exchange rate at the black market was N1,390 against the dollar, unchanged from the previous day.