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The naira recorded its 5th consecutive time of depreciation astatine the authoritative overseas speech market, ending the week connected a antagonistic note.
Data from the Central Bank of Nigeria showed that the naira weakened to N1,368.22 per dollar connected Friday, down from N1,366.73 connected Thursday.
This means that, connected a day-to-day basis, the naira depreciated by N1.49 against the dollar connected Friday.
Similarly, astatine the parallel (black) market, the naira weakened sharply to N1,425 per dollar connected Friday from N1,418 traded the erstwhile day.
DAILY POST reports that, implicit the week, the naira depreciated by N6.13 and N15 per dollar astatine the authoritative and parallel overseas speech markets, respectively.
This comes arsenic the country’s overseas reserves stood astatine $51.92 cardinal arsenic of July 30, 2026.
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