Home Business Naira Continues Depreciation Against Dollar, Records Highest Weekly Decline
Business

Naira Continues Depreciation Against Dollar, Records Highest Weekly Decline

Share
Share
  • The Nigerian naira continued to depreciate against the US dollar at the foreign exchange market on Friday.

  •  According to the Central Bank of Nigeria’s exchange rate data, the naira fell to N1,517.24 on Friday from N1,512.30 on Thursday.

  •  The naira’s depreciation was also reflected in the black market, where it remained flat at N1,580 per dollar, after recording its highest fall from N1,525 earlier in the week.

The Nigerian naira continued its downward trend against the US dollar at the foreign exchange market on Friday, ending the week on a negative note.

According to the Central Bank of Nigeria’s exchange rate data, the naira fell to N1,517.24 on Friday from N1,512.30 exchanged on Thursday.

On a day-to-day basis, this showed that the naira dropped by N4.94 to the dollar compared to the N1,512.30 exchange rate on Thursday.

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

READ ALSO: Naira Records First Depreciation Against Dollar on Black Market

Meanwhile, the black market naira remained flat at N1,580 per dollar, the same rate recorded on Thursday when it had the highest fall from N1,525 in the week under review.

The development comes as Nigeria’s external reserves declined by $1.31 billion, which stood at $38.42 billion on February 28th from $39.72 billion at the end of January 2025.

Naira Depreciates Further Against Dollar at Black Market

The Naira continued its downward trend against the dollar at the parallel foreign exchange market on Thursday, exchanging at N1500 per dollar.

According to Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, Abuja, the Naira dropped by N10 from the previous day’s exchange rate of N1490 per dollar.

Continue Reading Here

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
NNPCL to Hand Over Nigerian Refineries to Private Firms
Business

NNPCL Slashes Fuel Price to N895 per Litre Amidst Market Competition

NNPCL has reduced the pump price of premium motor spirit (PMS) to...

Business

Naira Currency Appreciates Against US Dollar Amid Policy Reforms

The Nigerian currency, Naira, has appreciated by ₦4.59 against the US dollar,...

Business

Mauritania’s Sidi Ould Tah Elected AfDB President, Pledges to Boost Africa’s Growth

Sidi Ould Tah from Mauritania has been elected as the ninth president...

Business

NLO Slaps Two-Year Ban, Heavy Fines on Four Clubs for Match-Fixing

NLO player ban: Upholding Integrity on the Pitch. How the Suspensions Reshape...

5win
RocketplayRocketplay casinoCasibom GirişJojobet GirişCasibom Giriş GüncelCasibom Giriş AdresiCandySpinzDafabet AppJeetwinRedbet SverigeViggoslotsCrazyBuzzer casinoCasibomJettbetKmsauto DownloadKmspico ActivatorSweet BonanzaCrazy TimeCrazy Time AppPlinko AppSugar rush