Naira depreciates to N1,358.44 against dollar, N1427 on black market
Naira extends depreciation against dollar at official FX market to end week on negative note. Currency dipped to N1,358.44 against dollar Friday, down from N1,353.91 traded Thursday—dropping N4.53 on day-to-day basis while losing N14.80 on week-to-week basis. At black market, naira fell to N1427 per dollar, up from N1426, reflecting N26 week-on-week loss. This depreciation trend comes as Nigeria's external reserves decline to $48.48 billion as of March 22, 2026. Importers, travelers, and businesses face increased costs for foreign goods and services. With naira continuing slide across both official and parallel markets, how will you adjust your financial planning for imported goods, travel expenses, or business transactions requiring foreign currency?