On Friday, the Naira strengthened slightly in the parallel market, closing at ₦1,550 per dollar, a ₦5 improvement from ₦1,555 recorded the previous day.
In contrast, the currency edged down by ₦1 in the Nigerian Foreign Exchange Market, slipping to ₦1,532/$ from the previous rate of ₦1,531, according to the Central Bank of Nigeria.
This shift helped narrow the disparity between the official and parallel market rates to ₦18, down from ₦24 on Thursday.
Throughout the week, the Naira remained within the ₦1,500/$ band across both markets. Although it lost ₦2.5 in the parallel segment, it recorded a notable ₦15 gain in the official window from a starting point of ₦1,565.
Market analysts attribute the week’s relative exchange rate stability to ongoing interventions by the CBN in the foreign exchange market.
Afrinvest has now revised its 2025 average exchange rate forecast to N1,577.25 per dollar.
