Naira records massive weekly depreciation against US Dollar in official, black markets

The naira recorded a important play depreciation against the United States dollar crossed some the authoritative and parallel overseas speech markets connected Friday.

At the authoritative market, information from the Central Bank of Nigeria showed that the section currency weakened further to N1,363.39 per dollar connected Friday, down from N1,359.81 traded connected Thursday.

This indicates a day-to-day diminution of N3.57 per dollar. On a week-on-week basis, the naira mislaid N17.07 against the dollar astatine the authoritative window.

DAILY POST reports that the section currency experienced sustained depreciation passim the week nether reappraisal astatine the authoritative overseas speech market.

Similarly, astatine the parallel market, the Naira depreciated by N58 week-on-week, closing astatine N1,375 per dollar connected Friday compared to N1,317 recorded past week.

The bearish show of the naira crossed the overseas speech markets followed confirmation by President Bola Ahmed Tinubu that the apex slope had mopped up dollars from the market.

Meanwhile, Nigeria’s outer reserves roseate to $49.51 cardinal arsenic of February 25, 2026, according to authoritative figures.

Naira records monolithic play depreciation against US Dollar successful official, achromatic markets