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    MarketForces Africa » FX Market » Naira Depreciates by 0.34% against US Dollar in FX Market

    Naira Depreciates by 0.34% against US Dollar in FX Market

    Julius AlagbeBy Julius AlagbeMay 3, 2025Updated:May 3, 2025 FX Market No Comments1 Min Read
    Naira Depreciates by 0.34% against US Dollar in FX Market
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    Naira Depreciates by 0.34% against US Dollar in FX Market

     The Naira depreciated on Friday at the official market, trading at N1,602.18 to the dollar. Spot FX data from the Central Bank of Nigeria (CBN) website showed that the Naira lost N5.49.

    This represents a 0.34 percent loss when compared to the N1,596.69 per dollar recorded on Wednesday, April 30, before the Workers’ Day holiday on Thursday, May 1.

    The Naira had remained relatively static for three trading days, from Monday, April 28, to Wednesday, April 30, when it traded at N1,599.95, N1,599.71, and N1,596.69, respectively.

    The local currency, which closed the current week on a negative note, had also opened the trading week with a minimal loss of 0.02 per cent. #Naira Depreciates by 0.34% against US Dollar in FX Market Pension Fund Assets Grows to N23.366 Trillion

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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