The Naira this weekend depreciated against the dollar in the official foreign exchange market, concluding the week on a low note.
According to data from the Central Bank of Nigeria, the Naira fell to N1,602.18 per dollar on Friday, down from N1,596.68 on Thursday. This decline of N5.492 marks the largest depreciation since April 22, 2025.
In contrast, the Naira appreciated by N3 in the black market, rising to N1,605 per dollar on Friday from N1,608 the day before.
Despite the Central Bank of Nigeria’s efforts, the Naira continues to experience fluctuations against the dollar in both foreign exchange markets.
