57 minutes ago
2
ARTICLE AD BOX
The naira extended its depreciation against the dollar at both the official and parallel foreign exchange markets, ending the week on a negative note.
Data from the Central Bank of Nigeria showed that the naira weakened further on Friday to N1,371.04 per dollar, down from N1,370.89 traded the previous day.
This means that, on a day-to-day basis at the official market, the naira dipped by N0.15 against the dollar.
Similarly, at the parallel market, the naira fell significantly to N1,415 per dollar on Friday, from N1,395 per dollar exchanged on Thursday and over the last four days.
The development comes despite a three-day increase in the country’s foreign reserves, which stood at $48.51 billion as of May 13, 2026, according to the apex bank.
Recall that on Thursday, the naira also dropped against the dollar at the official foreign exchange market.
In the week under review, the naira recorded mixed sentiments of losses and gains against foreign currencies.
Dollar to Naira exchange rate today, May 15, 2026: Nigerian currency extends depreciation
English (US) ·