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Naira Slips Against Dollar to End Week on Weak Note
The naira ended the week on a negative note as it slipped against the United States dollar at the official foreign exchange market on Friday. Data from the Central Bank of Nigeria (CBN) showed the local currency closed at ₦1,475.35 per dollar, weakening from ₦1,471.03 recorded on Thursday. This represents a day-on-day depreciation of ₦4.32.
At the parallel market, the naira maintained stability at ₦1,500 per dollar, unchanged from Thursday’s rate.
On a weekly basis, the currency lost ₦20.18 against the dollar compared to ₦1,455.17 traded on Friday, October 10, 2025, marking the steepest decline in recent weeks at the official window. Except for Thursday, the naira depreciated on all trading days during the week.
Despite the pressure on the currency, Nigeria’s external reserves continued to strengthen, rising to $42.67 billion as of October 15, 2025, according to CBN figures.
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