Naira continues depreciation, ends week on negative note

The naira continued its depreciation against the dollar at the official foreign exchange market, ending the week on a negative note.

Data from the Central Bank of Nigeria revealed that the naira further weakened to N1,567.02 against the dollar on Friday, compared to trading on Thursday.

This showed that, on a day-to-day basis, the naira dropped by N14.49 per dollar, from N1,552.53, its closing rate the previous day.

Meanwhile, in the black market, the naira remained stable against the dollar at N1,560 per dollar on Friday, the same rate as on Thursday.

Media Talk Africa reports that the naira recorded its highest depreciation against the dollar following President Donald Trump’s tariff announcement on Wednesday.