The naira on Friday recorded its highest depreciation against the United States dollar this week at the official foreign exchange market, reflecting mounting pressure on the local currency. Data from the Central Bank of Nigeria showed the naira weakened to N1,464.4974 per dollar, compared with N1,457.8402 recorded the previous day.
On a day-to-day basis, the currency lost N6.6498 to the dollar, marking its steepest single-day decline since December 4, 2025. Over the course of the week, the naira depreciated by a total of N12.67 at the official market, representing its weakest weekly performance in several months.
The naira also depreciated at the parallel market, closing at N1,500 per dollar on Friday, down from N1,490 last week. The decline coincided with a drop in Nigeria’s external reserves, which fell by $0.20 billion to $45.21 billion as of December 17, 2025, from $45.47 billion recorded five days earlier.