The naira depreciated on Friday, dropping against the dollar at the official foreign exchange market to end the week on a negative note.
The Central Bank of Nigeria’s data showed that the naira dipped to N1,375.46 against the dollar on Friday, down from N1,372.31 on Thursday.
This means the naira weakened against the dollar by N3.15 on a day-to-day basis.
However, at the black market, the naira remained at N1,400 per dollar on Friday, the same rate since Monday.
The development comes as the country’s foreign reserves rose to $48.89 billion as of May 21, 2026, up from $48.72 billion recorded two days earlier, according to apex bank data.
DAILY POST reports that in the week under review, the naira recorded both gains and losses against the dollar in the official foreign exchange market.
Don’t Miss
Reverse restriction on customers’ BVN-linked number modification — Alaba-Akinlabi to CBN
