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The naira weakened against the dollar at both the official and parallel markets on Friday, July 31, 2026Nigeria’s external reserves dipped slightly while FX turnover edged higher during the sessionCBN’s latest official exchange rates showed the naira losing ground against the pound and euro as well
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian naira weakened against the United States dollar across the official and parallel foreign exchange markets on Friday as renewed demand for foreign currency continued to weigh on the local currency.
Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira closed at N1,368.22/$1, representing a N1.49 or 0.11% depreciation from N1,366.73/$1 recorded in the previous trading session.
The naira weakened to N1,368.22/$1 in the official market on Friday Photo: BloombergSource: Getty Images
The latest decline extended the naira’s losing streak at
