Nigeria’s naira ended the week under renewed pressure against the US dollar on Friday, declining in both the official and informal foreign-exchange markets. Central Bank of Nigeria figures showed the currency fell to N1,361.84 per dollar on Friday, compared with N1,344.40 on Thursday, representing a day-on-day loss of N17.44. In the parallel market, the naira also slipped, trading at N1,385 per dollar versus N1,377 a day earlier. The broad weakening came even as Nigeria’s external reserves continued to increase, reaching $55.16 billion on Thursday. Over the week, the naira registered more sessions of depreciation than gains against the dollar across the two currency markets.
