The naira recorded another round of depreciation against the US dollar on Friday, extending its losses at the official foreign exchange market and closing the week on a weaker note.

Data from the Central Bank of Nigeria (CBN) showed that the local currency dropped to N1,362.21 per dollar, compared to N1,358.75 recorded on Thursday. This represents a daily decline of N3.46.

The latest movement means the naira has weakened for the second consecutive trading session within the week under review, reflecting continued pressure on the official foreign exchange window.

At the parallel (black) market, however, the currency remained stable, trading at N1,395 per dollar on Friday, the same rate recorded the previous day.

While the official market showed mixed performance, the black market remained largely unchanged throughout the week.

The ongoing currency fluctuations come despite an improvement in Nigeria’s external reserves, which rose to $50.04 billion as of June 4, 2026, according to recent data.

Market analysts continue to monitor the exchange rate movements as investors and businesses adjust to ongoing volatility in the foreign exchange environment.