According to CBN data, the naira traded at ₦1,475.35 per dollar on Friday, weakening from ₦1,471.03 recorded the previous day — a day-on-day depreciation of ₦4.32. This marked a sharp reversal after brief midweek stability in the foreign exchange market.
At the parallel market, however, the naira held steady at ₦1,500 per dollar for two consecutive days, mirroring Thursday’s closing rate.
A week-on-week comparison showed a steeper slide, with the naira losing ₦20.18 against the dollar relative to ₦1,455.17 traded on Friday, October 10, 2025. The performance represents the largest weekly depreciation in the official window in recent times.
Market data further indicated that the naira depreciated on most trading days during the week, except on Thursday when it briefly firmed up.
Despite the continued weakness of the local currency, Nigeria’s external reserves have been on a steady ascent, climbing to $42.67 billion as of October 15, 2025, according to CBN figures. Analysts suggest that the rising reserves could provide a buffer for future FX interventions, though short-term volatility in the naira may persist as market forces adjust to demand pressures.