Naira depreciates against dollar at foreign exchange market
For the first time since May 27, 2025, the Nigerian naira saw its largest decline against the US dollar on Friday in the official foreign exchange market.
Prior to Nigeria's Democracy Day holiday on Thursday, the naira traded at N1,539.72 on Wednesday, but on Friday it dropped to N1,549.35 versus the dollar, according to data from the Central Bank of Nigeria.
When compared to the N1,539.72 exchanged on June 11, 2025, this indicates a notable decrease of N9.63 on Friday.
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