Naira faces highest depreciation against dollar at official market after this happened

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The Naira declined in value against the U.S. dollar at the official foreign exchange window on Friday, closing the week with a loss.

According to data from the Central Bank of Nigeria, the exchange rate fell to N1,602.18 per dollar on Friday, compared to N1,596.68 recorded on Thursday.

This marks a daily drop of N5.49, the steepest single-day depreciation since April 22, 2025.

In contrast, the parallel market saw the Naira strengthen slightly, gaining N3 to trade at N1,605 per dollar on Friday, an improvement from N1,608 the day before.

Despite ongoing interventions by the Central Bank, the Naira has continued to experience volatility in both the official and informal exchange markets.

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