Business
Naira Ends Week Weaker at Official FX Window
The naira ended the week on a weaker note at the official foreign exchange market, slipping further against the US dollar on Friday. Data from the Central Bank of Nigeria (CBN) showed the naira depreciated to N1,530.26 per dollar, down from N1,525.98 recorded on Thursday—marking a daily decline of N4.28.
Compared to the previous week’s closing rate of N1,528.56, the naira also recorded a week-on-week dip of N1.70 at the official market. In contrast, the parallel market remained steady, with the naira holding firm at N1,550 per dollar since Tuesday, reflecting a N20 gain over the week.
The currency’s performance highlights ongoing pressures in the official market despite relative calm in the black market.
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