The naira posted its sharpest single-day depreciation of the week at the official foreign exchange market on Friday, closing lower against the United States dollar and ending the trading week on a negative trajectory.
Data from the Central Bank of Nigeria (CBN) showed that the local currency weakened to N1,346.32 per dollar on Friday, compared to N1,341.35 recorded on Thursday. The N4.97 drop represents the highest daily decline since the currency began its downward trend on Wednesday.
In total, the naira has shed N10.36 at the official window since Wednesday’s trading session, reflecting sustained pressure in the formal market.
On a week-on-week basis, the currency depreciated by N9.0 when compared to last Friday’s closing rate of N1,355.42 per dollar.
In contrast, the parallel market recorded significant gains over the same period. The naira appreciated to N1,317 per dollar at the close of trading this week, strengthening from N1,440 per dollar recorded last Friday. This translates to a notable week-on-week gain of N123 in the black market.
Meanwhile, the CBN’s latest figures indicate that Nigeria’s external reserves remained steady at $48.50 billion as of February 17, 2026.
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