The Nigerian Naira continued its downward trend against the US dollar at the official foreign exchange market, ending the week with further depreciation.
According to data released by the Central Bank of Nigeria, the naira closed at N1,358.44 per dollar on Friday, compared to N1,353.91 on Thursday.
This marks a day-to-day decline of N4.53. On a weekly basis, the local currency recorded a total loss of N14.80, reflecting sustained pressure in the foreign exchange market.
A similar pattern was observed in the parallel market, where the naira weakened slightly to N1,427 per dollar, indicating a cumulative weekly loss of N26.
The currency’s performance comes amid a dip in Nigeria’s external reserves, which stood at $48.48 billion as of March 22, 2026.
