On Friday, the naira has fallen against the United States dollar at the official foreign exchange market, closing the week on a weak note.
According to the data from the Central Bank of Nigeria, the currency settled at N1,442.43 per dollar, down from N1,441.44 on Thursday. The day-to-day movement reflects a 0.99 decline.
The rate in the parallel market held steady. Traders sold the dollar at N1,465, the same level recorded on Thursday. The gap between the two markets remained wide, despite recent steps by the authorities to stabilise the naira.
Across the week, the currency lost value on four trading days. It shed N5.86 at the official window, according to CBN figures. Market watchers noted the pattern signals ongoing pressure from dollar demand, even as the regulator continues to intervene.
The drop comes at a time when Nigeria’s external reserves are rising. The CBN reported reserves of $43.54 billion as of Thursday, up from $43.35 billion the previous week. The uptick suggests stronger inflows, but the improvement has yet to reflect in exchange rate performance.
The market will resume next week with attention on supply conditions, investor sentiment, and any new policy steps that may guide rate movement.
