Business
Naira Hits Two-Month Low as Week Ends on Weak Note
The naira closed the week on a weaker note, hitting its lowest point in two months as it continued to lose ground against the US dollar on Friday.
Figures from the Central Bank of Nigeria showed the currency slipping to N1,450.43 per dollar, down from N1,447.83 the previous day, reflecting a daily loss of N2.59.
In the parallel market, the naira held steady at N1,475 per dollar, a rate unchanged since Wednesday.
The currency saw only one day of gains during the week, with a slight appreciation recorded on Tuesday. Overall, the naira fell by N3.68 on a week-to-week basis when compared to the N1,446.74 level recorded on November 28, 2025.
The decline comes at a time when Nigeria’s foreign exchange reserves have inched up, reaching $45.04 billion as of December 4, 2025.