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 fell to 1,450.43 naira per dollar on Friday, down from 1,447.83 the previous day—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 naira’s performance was lackluster throughout the week, with the exception of Tuesday when it appreciated. Compared with the previous week, the currency has dropped by 3.68 naira, from 1,446.74 on November 28, 2025. This decline comes despite an increase in Nigeria’s foreign‑exchange reserves, which rose to $45.04 billion as of December 4, 2025. The contrast highlights the complexities of Nigeria’s currency market, where multiple factors drive exchange‑rate fluctuations.
The Central Bank’s data provides insight into the naira’s movements, which are closely watched by investors, businesses, and individuals. Currency stability is crucial for Nigeria’s economic growth, affecting trade, inflation, and overall activity. In recent months, the naira has experienced significant volatility, influenced by global economic trends, oil prices, and domestic 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 stronger external buffers. However, the naira’s decline against the dollar suggests that the currency market still faces significant challenges. As economic authorities work to stabilize the naira, monitoring its performance and broader economic implications remains essential.
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