The naira slipped back into depreciation territory against the dollar at the official foreign exchange window, closing the week at N1,539.24 per dollar, a setback after earlier gains.
Central Bank of Nigeria data revealed that the local currency weakened to N1,539.24 on Friday, compared to N1,536.08 traded on Thursday, reflecting a N3.12 drop in value.
This represents a N3.12 loss in value on a day-to-day basis.
The Friday downturn followed a strong showing the day before, when the naira recorded a significant N13.18 gain at the official market.
In contrast, the parallel market saw some positive movement. The naira appreciated to N1,570 per dollar on Friday, improving from N1,580 recorded on Thursday.
Despite Friday’s slip at the official window, a week-on-week comparison shows the naira strengthened slightly, gaining N8.12 at the official rate and N30 in the black market.
This compares to the N1,547.36 and N1,600 traded in both markets respectively on Friday, June 20, 2025.
