The Nigerian Naira recorded a marginal depreciation against the United States Dollar at the official foreign exchange market on Friday, concluding the weekly trading cycle on a negative note. According to official compliance data monitored closely by treasury participants, the local currency experienced downward adjustments to settle around the N1,362 threshold.
Parallel Market Remains Unchanged
While the official window showed noticeable volatility, activities within the alternative parallel market maintained a stable posture throughout the final trading sessions. Foreign currency operators in key commercial hubs reported that supply and demand forces achieved a temporary equilibrium, keeping the retail exchange margins steady compared to previous sessions.
Foreign Reserves Show Growth
Despite the short-term transactional pressures at the official window, broader institutional indicators remain supportive. The latest financial tracking updates reveal that the nation’s foreign liquid reserves have maintained an upward trajectory, providing the monetary authorities with structural leverage to oversee ongoing currency stabilization initiatives.