The naira on Friday recorded its sharpest depreciation against the United States dollar this week at the official foreign exchange market, coinciding with a decline in Nigeria’s external reserves.
Data from the Central Bank of Nigeria showed that the local currency weakened to ₦1,464.50 per dollar, from ₦1,457.84 previously, extending its downward movement for the week.
On a daily basis, the naira lost ₦6.65 to the dollar, marking its biggest single-day decline since December 4, 2025.
Over the course of the week, the currency depreciated by a total of ₦12.67 at the official market, making it one of its poorest weekly performances in recent months.
The naira also softened at the parallel market, closing at ₦1,500 per dollar on Friday. This represents a ₦15 drop compared with the previous week’s rate of ₦1,490.
The weakening of the naira across both the official and black-market segments comes amid a fall in Nigeria’s external reserves, which declined by $0.20 billion, or 0.57 per cent, to $45.21 billion as of December 17, 2025, from $45.47 billion recorded on December 12.
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