The Nigerian naira ended the week on a downward trend, depreciating against the United States dollar at the official foreign exchange (FX) market on Friday.

According to data from the Central Bank of Nigeria (CBN), the naira fell to ₦1,475.35 per dollar, down from ₦1,471.03 recorded on Thursday — a daily loss of ₦4.32.

This marks a significant weekly decline, as the naira dropped by ₦20.18 compared to ₦1,455.17 traded on Friday, October 10, 2025. The performance represents the steepest depreciation seen at the official market in recent weeks.

At the parallel market, however, the naira remained relatively stable, holding steady at ₦1,500 per dollar, the same rate recorded on Thursday.

Despite the local currency’s slide, Nigeria’s external reserves continued to grow, reaching $42.67 billion as of October 15, 2025, according to CBN data.

Analysts suggest that the naira’s recent volatility reflects ongoing demand pressures in the FX market and limited dollar supply. The CBN has continued interventions aimed at stabilising the market, though short-term fluctuations remain a concern for traders and investors.