The naira ended the trading week at ₦1,366.19 to one US dollar at the official foreign exchange market, reflecting a slight weakening of the local currency on Friday.
Figures released by the Central Bank of Nigeria (CBN) showed that the naira depreciated marginally from ₦1,366.06 recorded the previous day. This represents a day-to-day loss of 13 kobo against the dollar.
Despite the small decline at the close of the week, the naira still posted a strong performance overall.
On a week-on-week basis, the currency gained ₦20.36 at the official foreign exchange market, suggesting improved stability during the period.
At the parallel, or black market, the naira also recorded an improvement. It gained ₦10 to close trading at ₦1,450 per dollar, compared with earlier rates in the week.
The mixed movement in the naira came as Nigeria’s external reserves continued to grow. Data from the apex bank showed that the country’s foreign reserves increased to $46.91 billion as of February 5, 2026.
Analysts say the rise in external reserves could help strengthen confidence in the foreign exchange market, support the naira, and improve the Central Bank’s ability to meet foreign currency obligations in the coming weeks.
