Naira depreciates against dollar at official market

The naira depreciated on Friday, October 17, 2025, trading at N1,475.35 against the United States dollar at the official foreign exchange market.

The decline marked the end of a week characterised by fluctuating performance, during which the naira experienced steady but mild depreciations over four consecutive trading days.

The Central Bank of Nigeria (CBN) data revealed that the local currency weakened by N4.32 on Friday, representing a 0.29 per cent loss compared with Thursday’s rate of N1,471.02 per dollar.

In spite of the overall downward trend, the currency recorded a brief rebound on Thursday, appreciating by 0.15 per cent, equivalent to a modest gain of N2.26.

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Earlier in the week, the naira exchanged at N1,457.51 on Monday, N1,463.23 on Tuesday, and N1,473.29 on Wednesday, reflecting the currency’s unstable performance across the trading sessions.

Analysts attributed the week’s fluctuations to increased demand pressures in the foreign exchange market and limited liquidity inflows, which continue to influence short-term currency stability.

The Star