The naira recorded a depreciation against the dollar at the official foreign exchange market as trading resumed after the Independence Day holiday.
Central Bank of Nigeria data showed that the naira dropped to N1,330.10 against the dollar on Friday from N1,329.16 recorded on Wednesday, before the October 1 holiday in Nigeria.
This means that the naira weakened by N0.94 against the dollar at the official foreign exchange market on Friday, ending the week on a negative note.
Meanwhile, at the black market, the naira traded at N1,370 per dollar on Friday.
This comes as the country’s foreign reserves remained flat at $54.93 billion as of September 30, 2026.
Recall that the naira appreciated against the dollar at the official foreign exchange market before the holiday.