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Nigerian currency depreciates to end week on negative note - DAILY POST
The naira depreciated against the dollar at the official foreign exchange market on Friday to end the week on a negative note.
Data from the Central Bank of Nigeria showed that the naira weakened to N1,361.39 against the dollar on Friday, down from N1,355.85 exchanged on Thursday.
This means that, on a day-to-day basis, the naira dipped by N5.54 against the dollar.
Meanwhile, at the black market, the naira remained flat at N1,393 per dollar on Friday, the same rate traded on Thursday.
In the week under review, the naira recorded mixed sentiments across the official and black markets.
The development comes as Nigeria’s foreign reserves stood at $48.33 billion as of May 7, 2026. DAILY POST reports that the country’s external reserves have continued their declining streak in recent weeks.
