On Friday, the naira experienced its largest single-day depreciation against the dollar in the official foreign exchange rate market, resulting in a negative end to the week.
According to the Central Bank of Nigeria’s data, the Naira further declined to N1,346.32 per dollar on Friday, a decrease from N1,341.35. Thus, the Naira fell by N4.97 daily, marking its most significant weakening since it started to lose value on Wednesday of this week.
The Naira had depreciated by N10.36 in the official market since Wednesday.
It also saw a week-on-week depreciation of 9.0 compared to the N1,355.42 that was traded last Friday.
Meanwhile, in the black market, the Naira had a remarkable week, finishing at N1,317 per dollar, an increase from last week’s figure of N1,440. This indicates that the black market saw a documented enormous increase of N123 per dollar when comparing week to week.
As of February 17, 2026, data from the apex Bank indicated that the nation’s external reserves were maintained at $48.50 billion.
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