The Naira on Friday recorded the highest depreciation against the United States Dollar this week at the official foreign exchange amid a drop in Nigeria’s external reserves.
The Central Bank of Nigeria’s data on Friday showed that the naira significantly dropped to N1,464.4974 per dollar, down from N1,457.8402, extending its downward trend for the week.
On a day-to-day basis, the Naira declined by N6.6498 per dollar, the highest dip since December 4, 2025.
Overall, the currency shed N12.67 against the dollar during the week under review at the official market, representing its weakest performance in several months.
Similarly, the Naira weakened at the black market to close at N1500 per dollar on Friday, down by N15 when compared with last week when it stood at N1490.
The downward slide of the Naira at official and black market foreign exchange markets comes as the country’s external reserves decline by $0.20 billion, or 0.57 percent, to $45.21 billion as of December 17, 2025, down from $45.47 billion recorded on December 12.
Credit: Daily Post