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Naira depreciates to ₦1,456.73/$1 at the official market, losing ₦14.06 week-on-week.
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Black market rate remains stable at ₦1,465/$1 despite declining patronage.
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The drop comes even as Nigeria’s foreign reserves rise to $43.64bn, a 1.25% increase.
The Nigerian Naira recorded significant losses against the United States dollar this week at the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) shows that the Naira closed on Friday, November 21, 2025, at ₦1,456.73/$1, weakening from ₦1,442.43/$1 recorded on November 14. This reflects a week-on-week decline of ₦14.06 at the official window.
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At the parallel (black) market, where activities have slowed due to reduced demand, the currency traded at ₦1,465/$1, the same rate recorded in the previous week.
The decline in the official rate comes despite an improvement in Nigeria’s external buffers. The country’s foreign reserves grew by 1.25 per cent to $43.64 billion within the week.
