The Naira sustained its depreciation against the United States dollar at both the official and parallel foreign exchange markets, ending the week on a negative note.
Data from the Central Bank of Nigeria, CBN, showed that the Naira weakened slightly at the official market on Friday, trading at N1,371.04 per dollar compared to N1,370.89 exchanged on Thursday.
This indicates that the Nigerian currency lost N0.15 against the dollar on a day-to-day basis at the official foreign exchange window.
At the parallel market, the Naira also recorded a sharp decline, closing at N1,415 per dollar on Friday, compared to N1,395 traded on Thursday and maintained over the previous four days.
The depreciation comes despite a three-day rise in Nigeria’s foreign reserves, which climbed to $48.51 billion as of May 13, 2026, according to figures released by the apex bank.
The latest decline follows Thursday’s loss recorded by the Naira against the dollar at the official foreign exchange market.
During the week under review, the local currency posted mixed performances, recording both gains and losses against major foreign currencies.
