Naira Falls to ₦1,387 as Nigeria’s Forex Reserves Slide to $49.29 Billion.

The Nigerian naira weakened further against the U.S. dollar, closing at ₦1,387/$1 at the end of March, amid continued pressure in the foreign exchange market.

Data from the Central Bank of Nigeria (CBN) showed that Nigeria’s external reserves fell to $49.29 billion by March 30, 2026, down from earlier levels, signaling sustained challenges in the country’s forex market.

The naira’s decline reflects ongoing market volatility influenced by both global economic factors and domestic currency dynamics. Analysts note that the fall in reserves could increase import costs and affect inflation if the trend continues.

CBN policymakers have been implementing measures to stabilize the market, including exchange rate adjustments and liquidity management, but the currency remains under pressure as Nigeria navigates external and internal financial challenges.

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