News Update
THE Naira dropped N14.85 against the United States dollar on a week-on-week basis at the official foreign exchange market.
The Central Bank of Nigeria’s data showed at the close of work on Friday, November 7, at N1,436.58 per dollar, down from 1,421.73 on October 31st, 2025.
This means that the Naira depreciated by 1.04 per cent against the Dollar on a weekly basis at the official market.
VAM reports that the Naira declined the most on Monday after United States President Donald threatened military action in Nigeria over an alleged killing of Christians.
Meanwhile, at the black market, the Naira recorded a significant gain to N1,445, up from N1,485 traded Friday, 31st 2025.
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Media reports that the Naira in the week under review recorded mixed sentiments while the country’s foreign reserves continued to rise to $43.32 billion as of November 6th, 2025.
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