The Nigerian Naira recorded a substantial decline against the US dollar at the official foreign exchange market between March 14 and 21, 2025.
An analysis of the Central Bank of Nigeria’s exchange rate data revealed that the currency weakened by N18.96 within the week.
On Friday, the Naira closed at N1,536.89 per dollar, marking a drop from the N1,517.93 it was traded at the previous week.
However, in the black market, the Naira saw a slight improvement, appreciating by N10 over the same period.
It ended the week at N1,580 per dollar, compared to N1,590 from the prior week.
The movement of the Naira in both the official and parallel markets highlights its ongoing volatility against major global currencies.
Tags: Naira depreciates
