The naira on Friday posted its steepest depreciation against the United States dollar at the official foreign exchange market, closing the week on a negative note. Data from the Central Bank of Nigeria (CBN) showed that the local currency weakened to N1,423.17 per dollar on Friday, compared with N1,419.72 recorded on Thursday.
The movement represents a day-on-day depreciation of N3.45, the highest recorded during the week under review and the largest decline so far in 2026.
At the parallel market, however, the naira remained stable, trading at N1,490 to the dollar on Friday, unchanged from the rate on Thursday.
Overall, the naira posted mixed performance during the week, recording three gains and two losses against the US dollar and other major currencies.
The development occurred despite a sustained increase in Nigeria’s external reserves, which rose to $45.67 billion as of January 8, 2026.
