October 18, 2025
The Naira depreciated on Friday, trading at N1,475.35 to the dollar at the official foreign exchange market, despite two times FX sales to banks, this is according to figures released by the Central Bank of Nigeria, CBN.
CBN data revealed that the Naira weakened by N4.32 on Friday, representing a 0.29 per cent loss compared with Thursday’s rate of N1,471.02 per dollar. The local currency weakened despite two FX interventions by the authority to redirect the spot rate at the official window.
The decline marked the end of a week characterised by fluctuating performance, during which the local currency experienced steady but mild depreciations over four consecutive trading days
Notwithstanding the overall downward trend, the Naira recorded a brief rebound on Thursday, appreciating by 0.15 per cent, equivalent to a modest gain of N2.26.
Within the week, the Naira exchanged at N1,457.51 on Monday, N1,463.23 on Tuesday, and N1,473.29 on Wednesday, indicating unstable performance of the naira across the trading sessions.
READ MORE; Naira Drops To N1,467/$1 Despite Steady Growth In Reserves.
The week’s fluctuations was attributed to increased demand pressures in the foreign exchange market and limited liquidity inflows, which continue to influence short-term currency stability.
On weekly comparison, the naira depreciated by ₦20.18 in the official market. It also lost ₦5.00 week on week to close at ₦1,490.00/$ in the parallel market. Hence, the spread between the two markets widened to 0.99%.
The Apex Bank intervened on Tuesday and Thursday in the Nigerian foreign exchange market, selling a total of $70 million to authorised dealer banks to strengthen the supply.
This week, Nigeria’s foreign reserves rose by $92.50 million to $42.68 billion amidst reports that crude oil output averaged 1.46 mbpd in a nine-month period.
READ MORE; Naira Trades below N1,500/$ First Time In Five Months
Brent crude declined to $61.00/b from USD 62.73/b, pressured by larger U.S. inventory builds, record output, and IEA warnings of a 2026 surplus. Sentiment weakened further on soft Chinese demand and reduced geopolitical risk following news of a Trump–Putin summit.
Gold prices have remained elevated as at the close of this week, rising by 4.87% to $4,202.10/oz, nearing record highs, supported by concerns over a prolonged U.S. government shutdown and expectations of interest rate cuts.
Due to geopolitical risks ease, oil prices may stay weak, while precious metals could gain from safe-haven demand. Industrial metals may firm on manufacturing demand, and agricultural prices are likely to remain mixed.
