The naira recorded its fifth consecutive day of depreciation at the official foreign exchange market, ending the week on a negative note.
Data from the Central Bank of Nigeria showed that the naira weakened to N1,368.22 per dollar on Friday, down from N1,366.73 on Thursday.
This means that, on a day-to-day basis, the naira depreciated by N1.49 against the dollar on Friday.
Similarly, at the parallel (black) market, the naira weakened sharply to N1,425 per dollar on Friday from N1,418 traded the previous day.
DAILY POST reports that, over the week, the naira depreciated by N6.13 and N15 per dollar at the official and parallel foreign exchange markets, respectively.
This comes as the country’s foreign reserves stood at $51.92 billion as of July 30, 2026.
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