Naira Weakens Further at Official Market, Closes Week at N1,362/$1
By Aboki Forex —
The naira depreciated against the dollar at the official foreign exchange market on Friday, ending the week on a negative note.
Data from the Central Bank of Nigeria showed the naira weakened to N1,362.21 per dollar on Friday. This was down from N1,358.75 traded on Thursday. On a day-to-day basis, the naira lost N3.46.
Friday’s downturn marked the second consecutive depreciation at the official market during the week under review.
Parallel Market Steady
At the black market, the naira remained unchanged at N1,395 per dollar on Friday. This was the same rate recorded on Thursday.
While the naira recorded mixed sentiments at the official market, it remained flat at the parallel market throughout the week.
Reserves Rise
The development comes as the country’s foreign reserves rose to $50.04 billion as of June 4, 2026.