The Nigerian naira experienced a significant decline in value against the US dollar on Tuesday, June 30, 2026, opening at an official exchange rate of ₦1,379.80 per dollar. This represents a new record low for the currency at the Nigerian Foreign Exchange Market (NFEM). Market data indicates this is the rate at which transactions commenced on the day. The weakening naira reflects ongoing economic pressures and fluctuations in foreign exchange demand. This development is likely to impact import costs and potentially contribute to inflationary pressures within Nigeria. Further analysis will be needed to determine the long-term effects of this devaluation. Vanguard News reported the initial exchange rate.