Naira Depreciates Further Against Dollar in Official, Black Markets
The naira weakened to N1,363.39 per dollar at the official market on Friday (down N3.57 from Thursday) and N1,375 at the parallel market (down N58 week-on-week). This follows President Tinubu's confirmation that the CBN mopped up dollars, despite Nigeria's external reserves rising to $49.51 billion. The sustained depreciation impacts import costs and inflation.