On Friday, the Nigerian Naira experienced a drop in value across both official and parallel foreign exchange sectors, concluding the business week with losses.
According to Central Bank of Nigeria figures, the official exchange rate moved to N1,370.19 on Friday, a minor retreat from the N1,370.15 recorded on Thursday. This represents a slight decline of N0.04 against the dollar within the official market.
Simultaneously, the black market saw the Naira drop by N10, settling at N1,405 per dollar compared to the previous day’s rate of N1,395. The currency’s downward movement occurred despite Nigeria reporting that its external reserves reached a significant $51.46 billion as of June 30, 2026.
Despite this daily dip, the Naira showed overall strength when compared to the prior week, gaining N10.74 against the dollar from the N1,380.93 rate observed on the preceding Friday.
