The Nigerian naira has hit a two-month low, closing the week on a downward trend against the US dollar. According to data from the Central Bank of Nigeria, the currency declined to 1,450.43 naira per dollar on Friday, down from 1,447.83 on Thursday. This represents a day-to-day depreciation of 2.59 naira.
On the black market, the naira ended the week at 1,475 naira per dollar, a rate that has remained unchanged since Wednesday. The currency’s performance was lackluster throughout the week, with the exception of Tuesday when it appreciated. Compared to the previous week, the naira has dropped by 3.68 naira, from 1,446.74 on November 28, 2025.
The decline in the naira’s value comes despite an increase in the country’s foreign exchange reserves, which rose to $45.04 billion as of December 4, 2025. This development highlights the complexities of Nigeria’s currency market, where various factors contribute to exchange rate fluctuations.
The Central Bank of Nigeria’s data provides insight into the naira’s performance, which is closely watched by investors, businesses, and individuals alike. The currency’s stability is crucial for the country’s economic growth, as it affects trade, inflation, and overall economic activity.
In recent months, the naira has experienced significant volatility, influenced by factors such as global economic trends, oil prices, and domestic economic policies. As Nigeria continues to navigate its economic challenges, the naira’s performance will remain a key indicator of the country’s progress.
The rise in foreign exchange reserves is a positive development, indicating an increase in the country’s external buffers. However, the naira’s decline against the dollar suggests that the country’s currency market still faces significant challenges. As the country’s economic authorities work to stabilize the currency, it is essential to monitor the naira’s performance and its implications for the broader economy.
