The Naira extended depreciation against the dollar at the official foreign exchange market to end the week on a negative note.
The Central Bank of Nigeria’s data showed that it dipped on Friday to N1,358.44 against the dollar, down from N1,353.91 traded on Thursday.
This means that the Naira dropped by N4.53 on a day-to-day basis while the local currency lost N14.80 on a week-to-week basis.
Similarly, at the black market, the Naira fell to N1427 per dollar, up from N1426, reflecting a N26 week-on-week loss.
The development comes as the country’s external reserves fell to $48.48 billion as of March 22, 2026.
