Business
Naira declines against dollar at official forex market, stays steady in black market
The naira weakened against the dollar on Friday at the official foreign exchange market, closing at N1,579.89 per dollar, down from N1,564.48 on Tuesday—a depreciation of N15.41. Despite this, the naira remained stable at N1,600 per dollar in the black market.
The currency had seen significant appreciation on Thursday. Throughout the week, the naira’s performance was volatile, influenced by the Central Bank of Nigeria’s introduction of the Retail Dutch Auction System.
READ ALSO: Naira hits record low amid persistent market pressures
Meanwhile, the naira remained unchanged at N1600 per dollar at the black market on Friday, the same as the previous day.
This comes after the naira appreciated significantly on Thursday.
In the week under review, the naira experienced mixed fortunes against the dollar following the introduction of the Retail Dutch Auction System by the Central Bank of Nigeria.
-
Trending Stories1 week agoDavido, Wizkid, Burna Boy or Asake: Who is having the biggest 2026 so far?
-
Football7 days agoPremier League releases 2026/27 festive fixtures, 7 matches set for Boxing Day
-
Crime6 days agoAnambra Police arrest mother over alleged child sexual exploitation
-
Business5 days agoJetour Nigeria, dealers take dashing, other models to Abuja Experience
-
Energy1 week agoBrent crude tops $100: What higher oil prices mean for Nigeria
-
Business6 days agoDangote Refinery IPO shifts spotlight to corporate governance, investor protection
-
Business3 days agoDangote IPO rush crashes Bamboo login as investors flood platform
-
Business6 days agoNaira gains ground as Euro holds around N1,548, reserves hit 18-year high