At the black market, this is the fourth consecutive depreciation since Monday, 26th 2025.
Nigeria’s naira extended its losing streak against the US dollar at the parallel forex market, closing at N1,628 on Friday, down from N1,623 the previous day. Bureau de Change operators attributed the drop to increased demand, with buying and selling rates pegged at N1,624 and N1,628-N1,630, respectively. This marks the fourth consecutive daily depreciation since Monday, June 26, 2025.
At the official market, however, the naira held steady at N1,586.15 per dollar, unchanged from Thursday’s rate. The widening gap between the parallel and official exchange rates highlights ongoing forex market pressures amid rising demand for dollars.
Abubakar Alhasan, a BDC operator in Abuja, told Daily Post, “We buy at N1,624 per dollar and sell between N1,628 and N1,630 per dollar due to a surge in demand.”