The naira depreciated for the first time in September 2026 at the official foreign exchange market, ending trading on Friday on a negative note.
Data from the Central Bank of Nigeria showed that the naira weakened to N1,321.22 against the dollar on Friday from N1,315.67 on Thursday.
This means that at the official foreign exchange market, the naira depreciated by N5.55 on a day-to-day basis.
Meanwhile, at the black market, the naira remained flat at N1,400 per dollar on Friday, the same rate recorded the previous day.
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The mixed movement across the foreign exchange markets comes despite the continued surge in the country’s foreign reserves, which stood at $54.08 billion on Thursday.
DAILY POST reports that the naira appreciated at the official market throughout the week, except on Friday.
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