Naira Closes Friday Trade Lower At N1,346.32/$

File photo of naira and dollar notes   The foreign exchange market closed Friday on a weaker note as sustained demand for dollars outweighed supply throughout the trading session. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569656851-0"); }); Market activity remained strong, with demand skewed to the bid side, putting upward pressure on exchange rates. As a result, the naira depreciated across official reference rates at the close of trading. The Nigerian Foreign Exchange Market (NFEM) Volume Weighted Average Price weakened by ₦4.97 to settle at ₦1,346.32 per dollar, while the Central Bank of Nigeria’s closing rate also depreciated by ₦2.00 to close at ₦1,348.00 per dollar. Analysts attributed the late weakness to stronger demand relative to available supply, which kept pressure on the local currency into the close. In the absence of major shocks, market participants expect trading to remain largely range-bound in the near term, with movements continuing to reflect demand and supply conditions. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569913499-0"); }); Join Our Whatsapp Channel To join: Simply click on the link below & turn on notifications to get the latest updates Subscribe to Our Newsletter In This Article: Dollar Naira More Stories Naira Closes In The Red At ₦1,341.35/$ Naira Falls To ₦1,340/$ Despite CBN Intervention Dangote Predicts Naira Will Hit ₦1,000 To $1 This Year, Backs FG’s Policies /* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * / var disqus_shortname = 'channelstelevision'; // Required - Replace example with your forum shortname / * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus.

SOURCE: https://www.channelstv.com/2026/02/20/naira-closes-friday-trade-lower-at-n1346-32/